Speaking of class-action suits, the first shareholder suit—there are bound to be more—has been filed against Dow Jones and the Bancroft family for not accepting News Corp.‘s $5 billion bid. The lead plaintiff Nora Vides Vines (Reuters is running a correction for the name) and the suit was filed in the Supreme Court of the State of New York. We haven’t seen it yet but Reuters reports the suit “alleges the Bancroft family and company directors exercised poor business judgment and rejected Murdoch’s offer ‘in bad faith.’ ... The rejection of the offer by the Bancrofts and directors ‘represents an ill-considered, hasty reaction, which did not satisfy their duty to obtain adequate information before rejecting a bona fide acquisition proposal.’” No comment from DJ, which had yet to see the filing.

You can follow our coverage through our WSJ and News Corp. archives.