News Column

Media Phone-hacking woes at Trinity Mirror meeting

May 15, 2014

Shareholders in Trinity Mirror are expected to demand greater openness from the newspaper group about the legal bill it faces over phone hacking.

The Local Authority Pension Fund Forum plans to call for more transparency about phone-hacking costs at a shareholder meeting in London today.

Shareholder advisory body Pirc, which advises the forum, has called on shareholders to vote against Trinity Mirror's annual report in protest against "inadequate" disclosures on phone hacking.

In January journalist Dan Evans pleaded guilty to phone hacking while working at the Sunday Mirror.

Pirc believes the company is expecting further civil claims. "Not reporting on these financial risks in our view is a material omission from the annual report," it said in a note to shareholders.

In its annual report Trinity Mirror said "financial impact from legal claims" was a significant risk. Jennifer Rankin

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Source: Guardian (UK)

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