US pension funds have filed an amended complaint alleging "rampant nepotism" and failed corporate governance" at News Corp. in light of the ongoing phone hacking scandal.
In addition to pre-existing allegations of abuse by News Corp chairman and CEO Rupert Murdoch, the amended complaint addresses revelations involving the News of the World (NOTW). NOTW editors have admitted hacking the mobile phones of a raft of public officials, celebrities, members of the royal family and 13-year-old murder victim Milly Dowler. The 168-year-old title caved to public presssure and closed on Sunday after mass outrage at the revelations. US pension fund shareholders allege the closure of the largest-circulation English language newspaper in the world was the fault of...
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