Murdoch Trying To Consolidate Power, Foreign Investors Say

Law360, Wilmington (May 31, 2012, 4:36 PM EDT) -- Foreign investors in News Corp. say the media giant has illegally stripped them of their voting powers — a violation of shareholders' rights and a blatant power grab by company executive Rupert Murdoch and his family, according to a proposed class action filed in Delaware state court Wednesday.

Foersta AP-Fonden, a Swedish pension management firm and owner of News Corp. stock, filed suit in the Delaware Court of Chancery, seeking to stop News Corp. from carrying out a plan revealed in April to suspend the voting...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.