News Corporation: stock purchasers file securities fraud class action lawsuit

Posted on: August 16th, 2011 by Steve Larson

A class action lawsuit has been filed against News Corporation (“News Corp.”), Rupert Murdoch, James Murdoch and Rebekah Brooks (collectively “Defendants”) in the United States District Court for the Southern District of New York (Civil Class Action Case No. 11-4947).  The complaint alleges that News Corp. and other defendants knew or were reckless in not knowing that employees at News of the World had allegedly hacked into the cell phone messages of thousands of cell phone users and allegedly issued misrepresentations to the stock market purportedly in violation of federal securities laws.

The News Corp. News of The World cell phone hacking securities fraud class action lawsuit complaint is reportedly brought on behalf of a putative class consisting of purchasers of the common stock of News Corporation (NASDAQ: NWSA) who purchased News Corp. stock during the period from March 3, 2011 through July 11, 2011.