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NEWS CORP

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NEWS CORP CLS A : Hagens Berman LLP Investigates News Corporation Securities Law Violations and Expanded Class Period

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07/23/2011 | 12:05am EDT

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. Additional information is also available at www.hbsslaw.com/newscorp.

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. Investors with losses greater than $500,000 who traded News Corporation stock from 2007 to the present are encouraged to contact Mr. Kathrein.

According to media reports, employees at News of the World, which is owned by News Corporation, hacked into thousands of cell phones over the course of several years. The U.S. Department of Justice has launched an investigation into the matter.

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.

Earlier this week, two former executives, one at News of the World and another at the paper's parent company News International, reportedly claimed that James Murdoch, the company's Deputy Chief Operating Officer and heir apparent, was fully informed in 2008 of the scope of the scandal.

"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."

About Investor Fraud Practice

Hagens Berman is a nationally recognized investor-rights law firm that provides highly acclaimed fraud recovery and asset protection services to individual and institutional investors. For an in-depth discussion of securities fraud, corporate governance and investor rights, please visit our Investor Fraud website or our Meaningful Disclosure blog.

About Hagens Berman

Seattle-based Hagens Berman Sobol Shapiro LLP is one of the top class-action law firms in the nation, with offices in Boston, Chicago, Colorado Springs, Los Angeles, Minneapolis, New York, Phoenix, San Francisco and Washington, D.C. Founded in 1993, we represent plaintiffs in class actions and multi-state, large-scale litigation that seek to protect the rights of investors, consumers, workers and whistleblowers. More information about the firm is available at www.hbsslaw.com.

Firmani + Associates Inc.
Mark Firmani, 206-443-9357
mark@firmani.com


© Business Wire 2011
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Financials ($)
Sales 2019 31 426 M
EBIT 2019 6 704 M
Net income 2019 10 750 M
Finance 2019 4 348 M
Yield 2019 0,86%
P/E ratio 2019 7,69
P/E ratio 2020 22,40
EV / Sales 2019 2,89x
EV / Sales 2020 3,05x
Capitalization 95 116 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 50,3 $
Spread / Average Target -2,1%
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NameTitle
James Rupert Murdoch Chief Executive Officer & Director
Lachlan Keith Murdoch Executive Co-Chairman
Keith Rupert Murdoch Executive Co-Chairman
John P. Nallen Chief Financial Officer & Senior Executive VP
Paul Cheesbrough Chief Technology Officer
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