The company's AGM has been taking place in Dublin today
The Chairman of Independent News & Media says the board is ‘horrified’ at the prospect of an alleged data breach at the company.
Murdoch McLennan told shareholders at its AGM today that it would be ‘entirely deplorable’ if third parties had accessed data for an ‘improper purpose’.
INM is opposing a move by the Director of Corporate Enforcement to appoint inspectors to investigate how the company is run.
The High Court has yet to make a decision on the matter.
John Flynn is a shareholder from Cork, and thinks the company can bounce back from the current controversy.
He said: "I think there's a mass hysteria at the moment about this business of the Director of Corporate Enforcement, and all this about data protection.
"We've gone over the top - we've gone from one extreme to the other. Let's have a bit of basic common sense, and stop behaving like children."