Judge Won't Dismiss Individual Plaintiffs' Vivendi Suits

Law360, New York (March 22, 2012, 7:18 PM EDT) -- A New York federal judge ruled Wednesday that individual securities lawsuits could proceed against a former Vivendi Universal SA executive after a fight broke out over when exactly a statue of limitations applies.

Judge Shira A. Scheindlin issued her order in litigation involving former Vivendi Chief Financial Officer Guillaume Hannezo, who faces at least four civil lawsuits from investors alleging deceptive practices. Litigation accusing Vivendi and its top brass of exaggerating the company’s financial health goes back to 2002, when a slew of class action complaints...
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