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UNISUPER LTD. v. NEWS CORP.

C.A. No. 1699-N.

898 A.2d 344 (2006)

UNISUPER LTD., Public Sector Superannuation Scheme Board, Commonwealth Superannuation Scheme Board, United Super PTY Ltd., Motor Trades Association of Australia Superannuation Fund PTY Ltd., H.E.S.T. Australia Ltd., Care Super PTY Ltd., Universities Superannuation Scheme Ltd., Britel Fund Nominees Limited, Hermes Assured Limited, Stichting Pensioenfonds ABP, Connecticut Retirement Plans and Trust Funds, and The Clinton Township Police and Fire Retirement System, Plaintiffs, v. NEWS CORPORATION, a Delaware corporation, K. Rupert Murdoch AC, Peter L. Barnes, Chase Carey, Peter Chernin, Kenneth E. Cowley AO, David F. Devoe, Viet Dinh, Roderick Eddington, Andrew S.B. Knight, Lachlan K. Murdoch, Thomas J. Perkins, Stanley S. Shuman, Arthur M. Siskind, and John L. Thornton, Defendants.

Court of Chancery of Delaware, New Castle County.

Decided: May 31, 2006.

Attorney(s) appearing for the Case

Stuart M. Grant, Megan D. McIntyre and Cynthia A. Calder, of Grant & Eisenhofer P.A., Wilmington, DE, for Plaintiffs.

Edward P. Welch, Robert S. Saunders, Edward B. Micheletti and T. Victor Clark, of Skadden, Arps, Slate, Meagher & Flom, L.L.P., Wilmington, DE, for Defendants.

J. Travis Laster, of Abrams & Laster, L.L.P., Wilmington, DE, for Objector Liberty Media Corporation.

MEMORANDUM OPINION

CHANDLER, Chancellor.

On May 23, 2006, this Court heard oral argument at a fairness hearing on the parties' stipulation of settlement of this class action. A single shareholder appeared as an objector to the settlement. At the close of the hearing, I stated that I would approve the settlement if the parties could agree to amend the release language to clarify that the release met the requirements of Delaware law. The parties were...

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