• Company
  • Description
  • Recovery Amount
  • News Corp
  • In re News Corporation Shareholder Derivative Litigation

 

Delaware Chancery Court

G&E reached a $139 million settlement – one of the largest settlements of derivative shareholder litigation in the history of Delaware Chancery Court – in a shareholder lawsuit against News Corp’s Board of Directors alleging breach of fiduciary duties by putting the personal and political interests of Rupert Murdoch, founder and CEO of News Corp, above those of the company’s public stockholders. The complaint focused on, among other things, the company overpaying for its acquisition of the Shine Group Ltd. (a company owned by Murdoch’s daughter) and the Board’s very public failure to adequately investigate and remedy a years-long cover-up by News International, a News Corp subsidiary, of illegal activity associated with phone-hacking and other privacy violations.