Breaking from 4-traders.com:
Hagens Berman, an investor-rights class-action law firm, today announced that it is investigating News Corporation (NASDAQ: NWSA) for potential securities law violations and that investors with losses exceeding $500,000 are encouraged to contact the firm to discuss the class action.
The Hagens Berman legal team encourages investors who purchased News Corporation securities, especially between March 3, 2011, and July 11, 2011, ("the Class Period") and who have suffered losses exceeding $500,000 to contact Partner Reed R. Kathrein via email at Newscorp@hbsslaw.com. Mr. Kathrein, who is leading the firm's investigation from its San Francisco office, can also be reached by phone at 510-725-3000....
A class action has been filed for investors who purchased News Corporation common stock between March 3, 2011, and July 11, 2011. The firm is also investigating a wider class period. ...
http://www.4-traders.com/...
No wonder the Murdoch mafia is lawyering up!
A schnib more from the article:
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.
...
"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."
Read here about the hundreds of millions of dollars it looks like Hagens Berman forced Enron and, if I'm reading correctly, Ken Lay's personal estate, to pay Enron pension victims.:
http://www.hbsslaw.com/...
UPDATE 1:
The Department of Justice is preparing subpoenas for News Corp as we speak. From care2:
The US Department of Justice is preparing subpoenas as part of a preliminary investigation into News Corporation. The subpoenas relate to allegations of hacking of 9/11 victims’ phones (so far only mentioned in the UK paper the Daily Mirror) and to “alleged foreign bribery,” namely “News International’s alleged payments to police in Britain, the subject of the Metropolitan police’s Operation Elveden.”
(bolding by diarist)
http://www.care2.com/...
UPDATE 2:
Oh dear -- the judge appointed by PM David Cameron to oversee the Hacking Scandal is a BFF of Murdoch! #cameronfail From the London Evening Standard:
...the Standard revealed links between the judge put in charge of the hacking inquiry and the Murdoch family.
Lord Justice Leveson has attended two evening events at the London home of PR boss Matthew Freud - who is married to Rupert Murdoch's daughter Elisabeth - as well as having another dinner with him.
The revelations raised questions over why the judge had been chosen to carry out the landmark inquiry into the media, police and politicians.
http://www.thisislondon.co.uk/...