Foreign Investors Join Vivendi Class Action

Law360, New York (March 26, 2007, 12:00 AM EDT) -- A U.S. District Court judge has granted class status to shareholders from France, England, the Netherlands and the United States, but not to shareholders from Germany or Austria, who have accused Vivendi S.A. of making false statements in order to hide the company’s dire financial situation.

Judge Richard J. Holwell ruled Thursday that courts in France, England and the Netherlands would likely recognize a judgment or settlement in the case, but thought courts in Germany and Austria were unlikely to recognize a ruling.

“While it could...
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