Delaware Chancery Court chief judge, William Chandler, dismissed three of the
five charges in the suit filed by global institutional shareholders.
But he said a trial must be held on two other charges alleging breach of contract and breach of promise.
The institutional investors claimed in a suit filed last year that the media-entertainment giant broke promises on corporate goverovernance that would "balance the power of the Murdoch clan," at the time of the re-incorporation of the former Australian firm.
The judge dismissed charges of fraud, negligent misrepresentation and breach of fiduciary duty.
The shareholders, including US, Australian and European pension funds, argued that Murdoch improperly extended a "poison pill," a move to defend against hostile takeovers by allowing a company to issue special shares that make a takeover far more expensive.
Some analysts said the poison pill was enacted to fend off a possible move by Liberty Media, a US holding company headed by mogul John Malone, believed to be interested in a bigger stake in News Corporation.
The lawsuit seeks to nullify the "poison pill" extension and require News Corporation to pay legal expenses.
News Corporation, is the umbrella company for an empire that includes the Fox studios and television operations, London-based satellite TV company BSkyB, newspapers including ‘The Times of London’, ‘New York Post’, ‘The Australian’ and
other publishing and media operations.
News Corporation's re-incorporation in Delaware became effective on November 12, 2004, after moving its headquarters from Australia.