Vivendi Investors Allowed To Use Facts From Class Action

Law360, New York (August 13, 2012, 8:23 PM EDT) -- Investors excluded from a class action accusing Vivendi SA of issuing misleading statements about its liquidity can use some settled facts from the suit to pursue their claims individually, a New York federal judge ruled Friday.

In an order granting investors' motion for collateral estoppel, U.S. District Judge Shira A. Scheindlin barred Vivendi from relitigating claims that it violated the Securities Exchange Act by misleading investors about its financial strength while it was pursuing major acquisitions, allegations for which a jury found the company guilty in...
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