Judge Lets Class Action Against News Corp Proceed

Law360, New York (December 21, 2005, 12:00 AM EST) -- A judge has given the green light to a huge class action suit filed against media powerhouse News Corporation over the company’s alleged refusal to allow shareholders to vote on a takeover defense.

The pension funds accused News Corp of reneging on an agreement that would allow shareholder input in the event of a takeover attempt by another company. News Corp allegedly extended the terms of its poison pill defense without approval.

Although Judge William B. Chandler III ruled the trial could proceed, he dismissed the...
To view the full article, register now.

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.