UPDATE: Vivendi: US Court Dismisses Claim By Shareholders In Paris
02 February 2012 - 6:39AM
Dow Jones News
French media and telecommunication group Vivendi SA (VIV.FR)
Wednesday said the U.S. District Court for the Southern District of
New York made public a decision to dismiss claims by individual
shareholders who had bought shares on the Paris stock exchange.
Vivendi said in a Wednesday statement it is "satisfied" with the
decision.
The court followed a 2010 Supreme Court ruling in another case
that stated a shareholder can only sue a listed company in a U.S.
court if he or she bought the shares on a U.S. stock exchange, a
source close to the case said.
A group of Vivendi shareholders who had bought their shares on
the Paris stock exchange wanted to sue the company, like the
plaintiffs of a 2002 class action suit who claimed Vivendi, which
was then headed by Jean-Marie Messier, hid crucial financial
information between October 2000 and mid-August 2002.
-By Inti Landauro and Eric Chalmet, Dow Jones Newswires; +33 1
4017 1740; inti.landauro@dowjones.com
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