French Court Convicts Ex-Vivendi CEO For Fraud

Law360, New York (January 21, 2011, 2:35 PM EST) -- A French criminal court on Friday convicted a former Vivendi SA CEO of misleading investors and its ex-vice chairman of insider trading in connection with the French media conglomerate's dire financial situation, which nearly pushed it into bankruptcy.

The criminal court in Paris hit former Vivendi CEO Jean-Marie Messier with a three-year suspended sentence and a fine of €150,000 ($204,000) in connection with charges of distributing incorrect information and misusing corporate funds, his attorney, Pascal Wilhelm, told Law360 on Friday.

Messier had initially been accused of...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.