News Corp. gets $139 mil cash

Investor's Business Daily

The media company will receive the cash settlement to resolve a lawsuit brought by shareholders alleging its board failed to investigate News Corp.'s (NWS) phone hacking scandal in England. The $139 mil will be paid by the company's liability insurance for board members, and go into company coffers, reports said. The suit was brought by a group including labor union-owned Amalgamated Bank. In a separate suit, shareholders seek to unseat board members and officers. Shares rose 1.4% to 31.71.

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