Several Retirement Funds That Own Shares in News Corp

question 132

Multiple Choice

Several retirement funds that own shares in News Corp.,Inc.,have filed suit against Rupert Murdoch,the chairman of the board and CEO of News Corp.,alleging that Mr.Murdoch had the board approve the purchase of his daughter's company for $675 million.Part of the purchase deal included putting Murdoch's daughter on the News Corp.board.Which would be the best theory for recovery by the retirement funds?

• A)Insider trading
• B)Violation of the corporate opportunity doctrine
• C)Violation of the business judgment rule
• D)Breach of fiduciary duty

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