SOURCE: Brower Piven, A Professional Corporation

July 28, 2011 18:25 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $500,000 From Investment in News Corporation to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the September 19, 2011 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - Jul 28, 2011) - Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of News Corporation ("News Corp." or the "Company") (NASDAQ: NWSA) during the period between March 3, 2011 and July 11, 2011, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than September 19, 2011 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the Company's failure to disclose during the Class Period that, with the knowledge and consent of their editors at News of the World, a United Kingdom newspaper run by News International, News Corp.'s 100% wholly owned British newspaper division, News Corp. has been hacking into the cell phone messages of more than 4,000 people for years. According to the complaint, after the revelation of this illegal activity, which prompted News Corp. to announced that it was closing the 168 year old News of the World and triggered problems and then withdrawal of News Corp's bid to acquire the remaining 61% of British Sky Broadcasting Group plc ("BSkyB") a British satellite broadcasting company News Corp. did not already own, the value of News Corp.'s shares declined significantly.

If you have suffered a net loss for all transactions in News Corporation common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.

Contact Information

  • CONTACT:
    Charles J. Piven
    Brower Piven, A Professional Corporation
    Stevenson, Maryland
    410/415-6616
    Email Contact