News Corp. To Pay $139M In Phone Hacking Derivative Deal

Law360, New York (April 22, 2013, 1:40 PM EDT) -- News Corp.'s board of directors on Monday agreed to pay $139 million and implement a host of corporate governance changes to settle litigation led by Amalgamated Bank over alleged phone hacking at British newspapers and a recent $670 million acquisition, in the largest shareholder derivative settlement to date.

The settlement brings to a close extensive shareholder derivative claims in the Delaware Court of Chancery over an alleged lack of oversight that allowed a phone hacking scandal at the News of the World and The Sun newspapers...
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