Fox Entertainment Group, Inc. : News Corporation Securities Litigation
On or around 04/13/2005 (Notice of voluntarily dismissal)
Filing Date: February 08, 2005
By the Stipulation Of Dismissal Pursuant To FRCP 41(a)(1)(ii), entered on April 13, 2005, the federal action has become moot by virtue of a settlement of a similar action in the Delaware Court of Chancery, In Re Fox Entertainment Group, Inc. Shareholders Litigation, Consolidated C.A. No. 1033-N. The federal action is dismissed without prejudice and without costs to either party.
The complaint alleges that throughout the Class Period, Defendants violated Section 14(e) of the Exchange Act of 1934. The complaint states that the registration statement that Defendant News Corp. has filed with the Securities and Exchange Commission in connection with its offer to acquire the remaining Fox Class A shares that it does not already own (the "Offer") is materially misleading and incomplete by its omission of the following information: (a) the nature and extent of the conflicts of interest suffered by the members of the special committee, (b) how News Corp. arrived at the exchange ratio in the Offer and its determination that the Offer represents "full and fair value for the Fox shareholders," (c) the analyses performed by News Corp.'s financial advisors and the information relied upon by those advisors in rendering any fairness opinions concerning the offer, (d) financial projections (and the assumptions underlying those projections) for News Corp. prepared by News Corp.'s management, and (e) financial projections (and the assumptions underlying those projections)for Fox prepared by News Corp. and/or Fox management.
Approximately 17 purported class action complaints were filed in January 2005 at the Court of Chancery of the State of Delaware challenging the FEG Offer.
Company & Securities Information
Defendant: Fox Entertainment Group, Inc.
Industry: Broadcasting & Cable TV
Headquarters: United States
Ticker Symbol: FOX
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Gary Kosseff, et al. v. Fox Entertainment Group, Inc., et al.