News Corp., Murdochs Seek Exit From US Suit Over Hacking

Law360, New York (December 3, 2012, 6:11 PM EST) -- News Corp. and top executives Rupert Murdoch and James Murdoch urged a New York federal judge to dismiss them from a class action brought by shareholders over the company's phone-hacking scandal in the U.K., arguing that the alleged misconduct might constitute mismanagement, but not securities fraud.

The shareholders allege that News Corp., News International Group and the Murdochs violated the Securities Exchange Act of 1934 by concealing the “existence and extent of illegal and unethical newsgathering practices” at News International's London tabloids.

But the defendants argue that...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Wilder v. News Corporation et al


Case Number

1:11-cv-04947

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul G. Gardephe

Date Filed

July 19, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.