TV News LIES

Thursday, Oct 23rd

Last update05:39:55 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...


Baby killed and eight wounded in suspected terror attack in Jerusalem

Jerussalem attackA three-month old baby has died and eight other people are wounded – one seriously –...

Afghan opium poppy yield hits all-time high

Afghan poppy yieldOpium poppy cultivation in Afghanistan has hit an all-time high despite years of counter-narcotics efforts that...

Soldier shot; gunman enters Canadian parliament, many shots fired

Canadian parliament enteredA gunman shot a soldier at the Canadian War Memorial in Ottawa and was then chased...

Ultra-Orthodox Jews attack Jerusalem buses over ad

Ultra orthodox Jews attack busesDozens of ultra-Orthodox Jews hurled stones and slashed the tires of buses bearing ads promoting female...
 
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!