Wednesday, April 2, 2014
(New York, NY) -- News Corp is claiming victory in a lawsuit over its phone hacking scandal. Shareholders sued the media company, claiming News Corp executives hid the true extent of the hacking operation at two of its British-based newspapers. They said the alleged concealment caused stock to plummet in July 2011 when it was revealed that the hacking was more widespread than they were led to believe. But on Tuesday, a U.S. District court judge dismissed the case, which was filed in New York. The judge said none of the defendants, including News Corp Chairman Rupert Murdoch and editor Rebekah Brooks, could be held liable for statements made before the time frame for which the shareholders tried to recover alleged stock losses.