A Delaware judge last week approved a $139 million cash settlement for News Corp. shareholders who sued the company for breach of fiduciary duty in the aftermath of a phone hacking scandal uncovered in 2011 at its News of the World tabloid in the U.K.
The plaintiff’s also claimed breach of fiduciary duty over the $600 million acquisition of Shine Group, a media company owned by Rupert Murdoch’s daughter Elisabeth. They claimed the overvalued purchase price was agreed upon because of the family connection.
