Del. court upholds dismissal of News Corp lawsuitRANDALL CHASE, AP Business WriterThe Associated Press
DOVER, Del. -- The Delaware Supreme Court has upheld the dismissal of a lawsuit in which News Corp. shareholders sought access to company records regarding its acquisition of Shine Group Ltd.
The justices ruled this week that the Central Laborers Pension Fund failed to meet procedural requirements under Delaware law for seeking access to News Corp.'s records.
A lower court judge dismissed the lawsuit on different grounds, ruling that the pension fund did not assert a proper purpose for getting News Corp.'s records last year because it already had filed a derivative lawsuit challenging the deal to buy Shine Group for some $675 million.
Shine is a U.K.-based television production company founded by CEO Rupert Murdoch's daughter, Elisabeth.
A hearing on News Corp.'s motion to dismiss the derivative lawsuit is scheduled for September.