SHARES in newspaper publisher Trinity Mirror dropped 10 per cent yesterday after four celebrities filed legal claims accusing the group’s tabloid titles of phone hacking.
The Daily Mirror owner fell 7.25p to 64.5p, bringing an end to a strong run for the stock, which had stood at just 25p in August. Trinity Mirror, which also publishes the Daily Record and the Sunday Mail, said it had yet to receive any legal claims.
Rival publisher News International has paid tens of millions of pounds to settle phone hacking allegations. Singer analyst Johnathan Barrett said the legal claims would weigh on Trinity Mirror’s share price because, although the number of claims was small compared with News International, they could rise over time.