Hagens Berman's investigation centers on claims that by failing to disclose the hacking, News Corporation made misleading statements to investors, causing the company's stock to be traded at an artificially high price.
Earlier this week, two former executives, one at News of the World and another at the paper's parent company News International, reportedly claimed that James Murdoch, the company's Deputy Chief Operating Officer and heir apparent, was fully informed in 2008 of the scope of the scandal.
"James and Rupert Murdoch either knew or should have known the despicable prevalence of hacking as a reporting tactic at News of the World," said Mr. Kathrein. "We are investigating what they knew and when, as well as the impact the company's failure to disclose the scandal earlier may have had on investors."
Monday, July 25, 2011
Possible class action lawsuit against News Corp for misleading investors
It's pile on time and News Corp is going to be on the receiving end for a while.
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