NEWS CORP CLS A : Hagens Berman LLP Investigates News Corporation Securities Law Violations and Expanded Class Period
07/22/2011| 11:05pm US/Eastern
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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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