News Corp. Ducks Docs Suit Over $670M Shine Group Deal

Law360, New York (December 1, 2011, 4:10 PM EST) -- Rupert Murdoch and News Corp. convinced a Delaware state court Wednesday to dismiss an investor lawsuit seeking records related to the company's $670 million purchase of Shine Group Ltd., a television production enterprise owned by the media mogul's daughter, Elisabeth Murdoch.

A Delaware Chancery Court judge said that the investors, led by the Central Laborers Pension Fund, could no longer pursue their records suit — a Section 220 action — now that they have filed a shareholder derivative lawsuit over the controversial acquisition. By filing the...
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