News Corp has reached a $139m (£91m) settlement with
shareholders over complaints filed against the company's board of directors.
The 2011 suit related to the company's UK phone-hacking scandal
and the purchase of a UK TV production firm.
The money will be covered by the insurance policies of the
directors, who are the defendants in the suits.
News Corp said it "acknowledges the meaningful role the
plaintiffs" played in improving corporate governance.
The company agreed to adopt enhanced measures as part of the
derivative settlement. In a derivative suit, shareholders, acting on behalf of
the company, sue against executives to rectify a wrong in a firm.
No comments:
Post a Comment