News Corp. to argue motion to dismiss in the Delaware Court of Chancery this week

Here’s an update on the ongoing News Corp. shareholders’ lawsuit against Rupert Murdoch and other officers over alleged corporate governance failures tied to the widespread cell phone hacking scandal.

News Corp.’s motion to dismiss the case will be argued this coming Wednesday, Sept. 19 at 10:00 a.m. at the Delaware Court of Chancery, Kent County Courthouse, located at 38 The Green in Dover, Del.

Arguments will be made before The Honorable Vice Chancellor John W. Noble. Grant & Eisenhofer managing director Jay Eisenhofer will be arguing for the case to go forward, on behalf of lead plaintiffs Amalgamated Bank, Central Laborers Pension Fund and New Orleans Employees’ Retirement System. Co-counsel for the lead plaintiffs is firm Bernstein Litowitz Berger & Grossmann LLP.

The suit, filed last year, alleges that Murdoch and other board members’ breach of fiduciary duty exposed News Corp. to billions in losses that could have otherwise been avoided. In an amended complaint filed after the hacking story broke last July, plaintiffs further contended that the board’s failure to investigate, control and limit the fallout from the scandal have had a significant negative impact on News Corp’s valuation.

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