Vivendi: French Court Rejects Vivendi Move On US Class Action
April 28 2010 - 11:18AM
Dow Jones News
French media conglomerate Vivendi SA (VIV.FR) Wednesday said the
Paris court of appeal has rejected its application for a ruling
that French shareholders shouldn't participate in a U.S. class
action.
In February, a U.S. jury found Vivendi liable for misstatements
about its financial health in 2001 and 2002.
"Vivendi regrets that the Court of Appeal has decided not to
make a ruling at this stage on the question of whether American
class actions were in accordance with French public policy,"
Vivendi said.
Vivendi noted that no judgment on the matter has yet been
rendered in the U.S.
-By William Horobin, Dow Jones Newswires; +33 1 4017 1740;
william.horobin@dowjones.com (Ruth Bender in Paris contributed to
this item)
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