September 30, 2015 - The court granted defendants motions to dismiss without leave to amend.
November 21, 2014 - Defendants filed motions to dismiss.

April 30, 2014 - The lead plaintiff filed a second amended consolidated complaint on behalf of investors who purchased News Corporation (NASDAQ: NWSA) (NASDAQ: NWS) shares between July 8, 2009 and July 18, 2011. The lead plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between July 8, 2009 and July 18, 2011.

March 31, 2014 - The court granted the defendants' motions to dismiss and granted the lead plaintiff leave to file an amended complaint.

March 15, 2013 - An additional defendant filed a motion to dismiss.

January 11, 2013 - Another defendant filed a motion to dismiss.

November 30, 2012 - The defendants filed a motion to dismiss.

July 31, 2012 - The lead plaintiff filed an amended consolidated complaint.

June 5, 2012 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.

September 19, 2011 - Lead plaintiff motions were filed.

July 19, 2011 - An investor in shares of News Corporation (NASDAQ: NWSA and NASDAQ: NWS now trading as of June 28, 2013 as NASDAQ: FOXA and NASDAQ: FOX ) filed a lawsuit in U.S. District Court for the Southern District of New York against Rupert Murdoch and News Corporation over alleged violations of Federal Securities Laws in connection with the widening phone hacking scandal surrounding of now shut down UK newspaper ‘News of the World’.

According to the complaint the plaintiff alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing material misrepresentations to the market between March 3, 2011 and July 1, 2011.

Specially, the plaintiff alleges that defendants knew or were reckless in not knowing that, with the knowledge and consent of their editors, employees at News of the World, run by News International, News Corporation's 100% wholly owned British newspaper division have been hacking into the cell phones messages of more that 4,000 people for years. The defendants include: News Corporation, Rupert Murdoch, James Murdoch and Rebekah Brooks. In addition allegations have come out that reporters also tried to pay a New York City police officer to hack into the phone messages of the American families and victims of the September 11, 2001 terrorist attacks.

On July 4, media reports surfaced that journalists at the News of the World have hacked on several occasions voicemails. For instance reported the UK Guardian about hacked voicemails in March 2022 by News of the World journalists in connection with the disappearance of missing schoolgirl Milly Dowler, who was later found to have been murdered. The Guardian said that the News of the World illegally targeted Milly Dowler and her family in March 2002, interfering with police inquiries into her disappearance and giving her family false hope. Following the developing phone hacking scandal several companies withdrew their advertising from the News of the World and on 7 July 2011, it was announced that the News of the World would be permanently closed that week with the last issue being produced on Sunday, July 10, 2011.

On July 8, 2011 former editor Andy Coulson and former News of the World editor Clive Goodman were arrested. The same day it was reported that News Corporation's Australian operations could come under federal government investigation into the implications for Australia of the phone hacking scandal.

Shares of News Corporation (NASDAQ: NWSA) fell due to the phone hacking scandal about $2.5 per share to under $15.50 per share on July 12 wiping of more than $6.5 billion stock value.

On July 12, 2011 News Corporation announced that its Board of Directors has approved a stock repurchase program totaling $5 billion.

News Corporation (NWSA) stock rose on Wednesday, July 13 to $16.47 per share, but fell on Thursday to a close of $15.43 and fell during last Friday’s trading to under $15 per share.

On June 28, 2012, Rupert Murdoch announced that News Corporation's assets would be split into two publicly traded companies, one oriented towards media, and the other towards publishing. The split formally took place on June 28, 2013; where the present News Corporation was renamed Twenty-First Century Fox Inc and consists primarily of media outlets, while a new News Corporation was formed to take on the publishing division of the company.