An investigation for investors in NASDAQ:FOX shares was announced over potential breaches of fiduciary duties by certain directors at Twenty-First Century Fox.
Investors who purchased shares of Twenty-First Century Fox Inc (NASDAQ:FOX) have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Twenty-First Century Fox officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On July 6, 2016, former Twenty-First Century Fox News anchor Gretchen Carlson, filed a sexual harassment lawsuit against then-Fox News chief Roger Ailes. Carlson claimed in her lawsuit that her firing was retaliation for her refusing Ailes’ sexual advances. In addition, several women, including Megyn Kelly, Twenty-First Century Fox’s star anchor, reportedly stepped forward saying they also had experienced unwanted sexual advances from Ailes.
On July 21, 2016, Twenty-First Century Fox announced that Ailes was ousted from the network and Rupert Murdoch stepped in as chairman.
On August 10, 2016, it was reported that Twenty-First Century Fox is also facing scrutiny over whether it knew, or should have known, about Ailes’s alleged behavior. The article further states that “[c]orporate governance and ethics experts say that [Fox] and its board ought to have been aware of problems involving sexual harassment accusations at the network, as well as any payouts related to them.”
Twenty-First Century Fox Inc reported that its Total Revenue declined from over $28.98 billion for the 12 months period that ended on June 30, 2015 to over $27.32 billion for the 12 months period that ended on June 30, 2016 and that its Net Income for those respective time periods declined from over $8.37 billion to over $2.76 billion.
Shares of Twenty-First Century Fox Inc (NASDAQ:FOX) declined from $37.32 per share in December 2014 to as low as $23.91 per share on September 12, 2016.
Those who purchased NASDAQ:FOX shares have certain options and should contact the Shareholders Foundation.
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