Vivendi Seeks To Pare Down Securities Damages

Law360, New York (July 26, 2010, 6:19 PM EDT) -- Vivendi SA has asked a judge to cut down damages in a massive investor class action against the company by applying a recent U.S. Supreme Court decision limiting the reach of certain securities regulations to businesses that are traded domestically.

Lawyers for the French media conglomerate argued before Judge Richard J. Holwell on Monday in the U.S. District Court for the Southern District of New York in an effort to throw out common shareholders’ claims on the basis of the June high court decision in Morrison...
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