TV News LIES

Thursday, Nov 27th

Last update02:34:36 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...


China Drafts First National Law Against Domestic Violence

China domestic anti domestic violence lawChina has drafted its first national law against domestic violence, a move hailed by campaigners as...

Four polio vaccinators shot dead in SW Pakistan

POlio workers killedGunmen opened fire on a team of polio vaccinators in Pakistan's restive southwest on Wednesday, killing...

Israeli president opposes proposed law to give ‘national rights’ to Jews only

RivlinIsrael’s president, Reuven Rivlin, has voiced his strong opposition to a controversial proposed new law that...

Hong Kong riot police clear protest site, arrest student leaders

Hong Kong protestersHong Kong police on Wednesday cleared one of the largest protest sites that has choked the...
 
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!