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View Diary: It's Raining Shoes: News Corp Scandal Keeps Getting Worse (241 comments)

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  •  Maybe he's PO'd shareholders, (0+ / 0-)

    but the ones that are suing are professional plaintiffs: they see it as their mission statement to so sue companies.

    The LongView Funds use our power as investors to encourage corporate boards to pursue sound governance policies....After thorough review and analysis, we take action, using a variety of methods:
    Actively vote proxies after thorough evaluation of long-term impacts and using voting guidelines that address issues such as the election of directors, executive compensation, workplace practices, equal opportunity, and environmental sustainability.
    Engage in dialogues that addresses corporate policies and practices.
    Initiate shareholder resolutions.
    Organize support among investors for good governance and corporate citizenship.
    Pursue class action and shareholder derivative litigation.

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    •  Good for them - holding corporations accountable (0+ / 0-)

      Someone has to do it, since the other media, politicians and regulators aren't doing their jobs.  And besides, that's one of the beneficial purposes of litigation, to discourage behavior harmful to the public through threat of economic loss and negative publicity through litigation.  Not everyone believes tort reform BS.

      I read the petition - it's a fairly straightforward accusation of alter-ego, self-dealing, nepotism, and negligence.  It was amended to include this most recent dustup as a breach of fiduciary duty cause of action.  Since Murdoch and his relatives on the board clearly knew there was a hacking problem several years ago and did little to nothing about it, and since it is alleged quite a lot of money has been paid out in bribes and hush money, I certainly hope they have their E&O insurance paid up.  Oh and all their franchise taxes current.

      Which side are you on?

      by wiseacre on Tue Jul 12, 2011 at 04:50:58 AM PDT

      [ Parent ]

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