TV News LIES

Wednesday, Jul 01st

Last update01:05:30 AM GMT

You are here News International Stockholder group sues Murdoch

Stockholder group sues Murdoch

E-mail Print PDF

Stockholders sue MurdochA News Corp. stockholder group Monday sued Rupert Murdoch, saying they found it hard to believe he was unaware of the phone-hacking scandal at a tabloid. The shareholder group includes banks and pension funds. The shareholder group accused Murdoch of "rampant nepotism" and viewed his media holdings as a "family candy jar," The Guardian reported.

The News of the World ended publication after 168 years Sunday, as anger mounted over allegations of phone hacking of public officials and private citizens, as well as corruption.

The suit, filed in Delaware where News Corp. is incorporated, also said it was "inconceivable" Murdoch and son James Murdoch didn't know about the phone-hacking that allegedly went on at News of the World.

"These revelations should not have taken years to uncover and stop," the filing said. "[They] show a culture run amok within News Corp and a board that provides no effective review or oversight."

The shareholders also said in their suit Murdoch's interference with good corporate governance led to a "Murdoch discount" that depressed the value of stock shares below those of other similar media companies.

More...


Most Recent Related Stories...


US, Cuba to announce plan to open embassies

US-Cuba embassies t openPresident Barack Obama will announce Wednesday that the U.S. and Cuba have reached an agreement to...

More than 110 killed in Indonesian military plane crash

Indonesia air force plane crashAt least 113 people aboard an Indonesian air force C-130 have been killed, when the plane...

Deadly ISIS attacks hit Egypt's Sinai

Deadly attacks hit sinaiAt least 35 people have been killed in ongoing attacks on several military checkpoints and police...

Why police don't pull guns in many countries

Police in other countriesThe officer, alert but cautious, pounds on the suspect’s door. “Polizei!” he says forcefully, in his...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!