News Corp. prevails in shareholder poison-pill suit

|By:, SA News Editor

A judge dismissed a lawsuit against News Corp. (NASDAQ:NWSA) that said the company had to seek shareholder approval in extending a poison-pill provision.

Miramar Police Officers' Retirement Plan filed suit last year, saying that News Corp. was bound to follow a 2006 settlement that said the company couldn't maintain a stockholder-rights plan for more than a year without seeking shareholders' OK.

A Delaware judge ruled the spinoff of Twenty-First Century Fox (NASDAQ:FOXA) meant that "new" News Corp. was a new company not bound by the 2006 agreement -- but that the Fox spinoff was.

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