The swirling phone hacking scandal that has been mostly kept overseas is about to make a rough landing right in News Corp.’s back yard. According to Sky News, lawyers for the phone hacking victims are planning to sue the directors of News Corporation, alleging that what happened not only violated UK laws, but ours as well.
Obviously this raises the stakes even more for Rupert Murdoch and the company. As one of the lawyers said, it “will raise issues about the role of a parent company over its subsidiaries.”
With shareholders already nervous about what this scandal is going to do to News Corp., a high profile lawsuit isn’t going to calm anyone down.