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Wednesday, 1 February 2012 - Much of Vivendi U.S. shareholder lawsuit dismissed |
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Follow Reuters Facebook Twitter RSS YouTube Read Taliban "poised to retake Afghanistan" after NATO 9:51am EST Facebook to file $5 billion IPO Wednesday: IFR | 9:32am EST Birth control pills recalled, may not prevent pregnancy 31 Jan 2012 Wall Street jumps on overseas optimism | 10:23am EST Exclusive: U.S. accuses China of instigating plot against DuPont | 7:24am EST Discussed 142 U.S. outrage as Egypt bars Americans from leaving 67 Gingrich, Romney play for cheers in Florida debate 63 Romney ridicules Gingrich on eve of Florida vote Watched Iran sends toy drone to Obama Sun, Jan 29 2012 Boy's foetus twin shock Tue, Jan 31 2012 Newt Gingrich vows to fight on Tue, Jan 31 2012 Much of Vivendi U.S. shareholder lawsuit dismissed Tweet Share this Email Print Related News Illinois sues S&P over ratings, alleges fraud Wed, Jan 25 2012 GE ordered to defend lawsuit tied to 2008 crisis Thu, Jan 12 2012 Analysis & Opinion Corporate Governance: proxy advisory guidelines and the shifting landscape of benchmarking executive compensation It’s time for Cisco to cough up shareholder cash Related Topics Tech » Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » Wed Feb 1, 2012 10:57am EST (Reuters) - Vivendi SA has won the dismissal of much of what remained in a nearly decade-old U.S. lawsuit accusing the French media company of misleading shareholders about its finances in connection with a giant merger. In a January 27 opinion made public on Wednesday, U.S. District Judge Richard Holwell in Manhattan threw out claims by individual shareholders who had bought ordinary Vivendi shares on the Paris Bourse. The judge cited a 2010 U.S. Supreme Court decision, Morrison v. National Australia Bank Ltd, that limited the ability of investors to raise fraud claims over the purchase of foreign securities. Holwell had last February thrown out a majority of other claims in the lawsuit, which was first filed in 2002 and originally estimated at $9.3 billion. James Sabella, a lawyer for plaintiffs in the case, declined to comment. (Reporting By Jonathan Stempel; Editing by Derek Caney) Tech Deals Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Global Deals Review Hot Stocks Asian Markets Inflows Outflows Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints   We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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