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Shareholders Sue News Corp. Over UK Hacking Scandal

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By Kevin Fayle on July 12, 2011 2:14 PM

A group of shareholders has filed a lawsuit accusing Rupert Murdoch's News Corp. of gross corporate governance failures related to the UK phone hacking scandal. The lawsuit comes as an amended complaint to an existing lawsuit that charged the company with nepotism related to the acquisition of a company owned by Rupert Murdoch's daughters. The complaint asserts that this acquisition and the hacking scandal demonstrate a "culture run amuck within News Corp and a board that provides no effective review or oversight." Shareholders Sue News Corp. Over UK Hacking Scandal