A New York jury decided Friday in favor of U.S. and European shareholders who said the Paris-based Vivendi media group lied to the public about its shaky finances. Plaintiffs said the potential payout to investors could total $9.3 billion. A lawyer for Vivendi said it was impossible to estimate actual damages or even the class size yet, but a shareholders' attorney said he believed the award was the largest securities class action jury verdict in history.
February 01, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A jury on Friday decided in favor of U.S. and European shareholders who said the Paris-based Vivendi media group lied to the public about its shaky finances, setting the stage for the possible distribution of several billion dollars in damages to investors.
The company was found liable, but not its executives, according to the verdict in U.S. District Court in Manhattan.
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