Pension Funds and Shareholders’ Counsel Announce Settlement of News Corporation Derivative Litigation: An Announcement by

  Pension Funds and Shareholders’ Counsel Announce Settlement of News
  Corporation Derivative Litigation: An Announcement by Bernstein Litowitz
  Berger & Grossmann and Grant & Eisenhofer

Business Wire

NEW YORK -- April 22, 2013

News Corporation shareholders Amalgamated Bank, as Trustee to the LongView
Funds (“Amalgamated Bank”), Central Laborers Pension Fund and the City of New
Orleans Employees’ Retirement System (“NOMERS”), together with co-lead
derivative counsel, Bernstein Litowitz Berger & Grossmann LLP (“BLB&G”) and
Grant & Eisenhofer P.A. (“G&E”) announced today they have reached agreement
with News Corporation and the individual defendants, certain current or former
directors of the Company, to resolve all claims alleged in the derivative
lawsuit captioned In re News Corporation Shareholder Derivative Litigation
(6285-VCN, Delaware Chancery Court) (the “Action”).

Under the terms of the settlement, News Corporation will recover $139 million
in insurance proceeds. In addition, News Corporation will build on the
corporate governance enhancements that the Company, under the direction of its
Board, has taken over the last year to strengthen its global compliance
structure and corporate governance. Among other things, News Corporation is
implementing additional meaningful measures that the Company and the
Plaintiffs crafted through their cooperative efforts. The full terms of the
settlement, which will be subject to court approval in Delaware, are available

NOMERS Chairman, Dr. Edgar Chase said, “We are proud of the meaningful role
that we and our counsel played in the Company's continuing efforts to
strengthen its governance on behalf of our beneficiaries in achieving this
recovery and further improving corporate governance practices at News

Noel Beasley, Chairman of Amalgamated Bank, stated, “We are pleased that the
company has committed to additional enhancements to its governance that we
hope will continue to protect and enhance shareholder value going forward.”

Co-Lead Counsel for Plaintiffs, Mark Lebovitch of BLB&G and Jay Eisenhofer of
G&E, jointly stated, “We commend the significant compliance improvements that
News Corporation’s Board has implemented, and agreed to implement, and applaud
News Corporation for working with Plaintiffs to structure and implement
additional valuable governance and compliance reforms. We also are very
pleased that, as a result of the settlement, all of the governance and
compliance improvements set forth in the settlement agreement will remain in
place at the Company until at least the end of 2016.”

About BLB&G

Since its founding in 1983, BLB&G has obtained over $25 billion in recoveries
for investors and achieved precedent-setting corporate governance reforms on
behalf of its institutional investor clients. Regularly entrusted by its
clients and appointed as lead counsel by the courts in major securities class
actions, BLB&G has litigated numerous seminal cases establishing precedents
which have increased market transparency, held wrongdoers accountable, and
changed corporate business practices in groundbreaking ways. Due to its
impressive record of achievements, industry observers have recognized the firm
for its legal excellence ("consistently achieving the highest returns for
investors" – The National Law Journal; "the best advice in the field" –
Chambers USA; "one of the best bar none...impressive achievements and
excellent reputation" – Benchmark Litigation). BLB&G has offices in New York,
California, Louisiana, and Illinois. Visit to learn

About G&E

With offices in New York, Delaware, Washington, D.C. and Chicago, Grant &
Eisenhofer P.A. represents institutional investors and shareholders across the
globe in securities class actions, corporate governance actions and derivative
litigation. Not including its multibillion dollar recoveries under the False
Claims Act, the firm has recovered more than $13 billion for shareholders, in
the last five years and has consistently been cited by RiskMetrics for
securing among the highest average investor recovery in securities class
actions. Grant & Eisenhofer has been named one of the country’s top
plaintiffs’ law firms by The National Law Journal for the past six years. The
firm also has an expansive consumer protection practice group. For more about
Grant & Eisenhofer, visit


Alexander Coxe, 212-554-1423
Elise Martin, 302-622-7004
Allan Ripp, 212-262-7477
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