The News of the World phone hacking scandal has spawned a second derivative suit against its parent company, News Corp., in the Delaware Court of Chancery by a shareholder alleging the paper’s misdeeds have negatively impacted the company’s value.
The Massachusetts Laborers’ Pension & Annuity Funds filed the 53-page suit last week, recounting allegations that News of the World , a British tabloid, unlawfully intercepted voicemails and cell phone messages from citizens in the United Kingdom, including members of the royal family, celebrities, politicians and even a 13-year-old murder victim, according to court documents.
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