News Corp. Moves To Toss Investor Suit Over Shine Deal

Law360, Wilmington (June 13, 2011, 9:29 PM EDT) -- Rupert Murdoch and the rest of the News Corp. board asked a Delaware state court on Friday to dismiss a shareholder suit alleging the media giant overpaid for Shine Group Ltd., a film company owned by Murdoch's daughter.

Amalgamated Bank filed suit in March alleging the $675 million deal amounted to nepotism, with the acquisition driven by Murdoch’s desire to bring his daughter, Elisabeth Murdoch, back into the family business and coming at the expense of shareholder value. Murdoch and the board argued Friday that the...
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