Accounting Errors Spur Suit Against French Utility Giant

Law360, New York (January 20, 2012, 4:44 PM EST) -- French water utility multinational Veolia Environnement SA was hit with a proposed shareholder class action on Thursday in New York federal court amid accusations that it overstated financial results by using improper accounting practices.

Shareholder Beth Shikiar filed the securities suit against ex-CEO Henri Proglio, CEO Antoine Frerot, Chief Financial Officer Pierre-Francois Riolacci, ex-Executive Vice President Thomas Piquemal, ex-CFO Jerome Contamine, and the company, claiming they “made false and/or misleading statements, as well as failed to disclose material adverse facts about the company's business, operations and...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Shikiar v. Veolia Envrionment S.A. et al


Case Number

1:12-cv-00312

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Victor Marrero

Date Filed

January 12, 2012

Law Firms

Companies

Government Agencies

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.