NEW YORK, Feb. 25, 2005 (PRIMEZONE) -- The Brualdi Law Firm announces that it has filed a class action lawsuit on behalf of purchasers of the securities of Fox Entertainment Group, Inc ("Fox" or the "Company") (NYSE:FOX) between January 10, 2005 and the date that News Corporation ("News Corp.") (NYSE:NWS) consummates its purchase of Fox inclusive (the "Class Period"), seeking remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). A copy of the complaint filed in this action is available from the court, or from The Brualdi Law Firm (212) 952-0602.
The action is pending in the United States District Court for the Southern District of New York against the Company, K. Rupert Murdoch, Peter Chernin, David F. DeVoe, Arthur M. Siskind, Lachlan K. Murdoch, Christos M. Cotsakos, Peter Powers, and News Corporation ("Defendants").
The complaint alleges that throughout the Class Period, Defendants violated Section 14(e) of the Exchange Act. 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.
If you bought the securities of Fox between January 10, 2005, and the date that News Corp. consummates its purchase of Fox, and sustained damages, you may, no later than April 26, 2005, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain The Brualdi Law Firm, or other counsel of your choice, to serve as your counsel in this action.
The Brualdi Law Firm (www.brualdilawfirm.com) is a firm active in major litigations pending in federal and state courts throughout the United States. It has taken a leading role in many important actions on behalf of defrauded investors, consumers, and others for many years. Please contact the The Brualdi Law Firm website for more information about the firm. If you wish to discuss this action with us, or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following attorneys:
Richard B. Brualdi, Esq. Gaitri Boodhoo, Esq. The Brualdi Law Firm 29 Broadway, Suite 2400 New York, NY, 10006 Phone number: (877) 495-1187 Email: rbrualdi@brualdilawfirm.com