A group of News Corp. shareholders have sued the company over a phone-hacking scandal at its now-closed News of the World tabloid in London.
The lawsuit accuses News Corp. of large-scale governance failures. It was filed late Friday in Delaware Chancery Court by shareholders led by Amalgamated Bank. Several municipal and union pension funds joined in the lawsuit. The shareholders own less than 1 percent of News Corp.'s stock combined.
THIS LAWSUIT IS SURREPTITIOUS CLASS WARFARE.
THEIR LAW SUITS HAVE MORE TO DO WITH POLITICS THAN SHAREHOLDER EQUITY.
THEY HATE MURDOCH BECAUSE MURDOCH PROMOTES THE FREE-MARKET AND A FREE-MARKET DIMINISHES LABOR UNIONS' POWER.