Murdochs Beat Investor Suit Over $82M Disney Sale Windfall

Law360 (June 26, 2020, 6:23 PM EDT) -- The Delaware Chancellor on Friday tossed a suit by a former Twenty-First Century Fox Inc. investor fund, which asserted that controlling investor Rupert Murdoch and his sons unfairly received $82 million in stock awards to boost the spoils related to Fox's $71 billion merger with The Walt Disney Co., saying it lacked standing.

In a 43-page memorandum opinion, Chancellor Andre G. Bouchard agreed with the Murdochs, Fox Corp. and its directors that an investor trust lost its standing to sue as a result of a two-step transaction by which Twenty-First Century Fox "spun off its news, sports, and broadcasting businesses to...

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