Class Action

Vivendi Loses Securities Class Action: Jury Finds 57 Material Misrepresentations From October 2000 To June 2002

By Michael J. Hassen

Jury Returns Verdict in Favor of Plaintiffs in Securities Class Action Against Vivendi Universal, S.A., Finding that 57 Public Comments Made between October 2000 and June 2002 were False

Attorneys are reporting that a jury has reached a verdict in the securities class action filed against Vivendi, though the court docket does not yet reflect that a verdict has been reached. In re Vivendi Universal, S.A. Securities Litig., United States District Court, Eastern District of New York, Case No. 1:02-cv-05571-RJH-HBP. The class action reportedly covers approximately one million investors, and damages are estimated to be in the billions of dollars. Vivendi promises to appeal the jury verdict.

Full post as published by Class Action Defense Blog on January 30, 2010 (boomark / email).