Board Allowed News Corp. To Run Amok, Suit Says

Law360, New York (July 11, 2011, 1:14 PM EDT) -- A class of institutional investors already battling News Corp. in Delaware over the acquisition of a film studio run by CEO Rupert Murdoch's daughter said Monday the phone-hacking scandal at recently shuttered tabloid News of the World was another example of a corporate culture run amok.

In an amended complaint, Amalgamated Bank, the Central Laborers' Pension Fund and the New Orleans Employees’ Retirement System said revelations that the paper hacked into the cellphones of dead soldiers and a 13-year-old murder victim, among others, were further evidence...
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