Murdoch Grabbing Power Before News Corp. Split: Investor

Law360, Wilmington (August 2, 2012, 7:00 PM EDT) -- News Corp.'s recent bid to limit the voting power of foreign investors is actually a veiled attempt by CEO Rupert Murdoch to lock up approval of the company's planned split of its publishing and entertainment businesses, a pension fund alleged in an amended complaint filed Thursday.

On May 31, Foersta AP-Fonden, a Swedish pension fund and News Corp. shareholder, filed a class action in Delaware Chancery Court to stop the media giant from carrying out a plan to suspend the voting rights of 50 percent of...
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