Morrison Rescues Vivendi From Foreign Investor Claims

Law360, New York (February 1, 2012, 4:30 PM EST) -- A New York federal judge on Friday threw out claims by Vivendi Universal SA investors that the French media giant artificially inflated its foreign shares as it pursued major acquisitions, citing the U.S. Supreme Court’s Morrison ruling limiting the reach of U.S. securities laws.

U.S. District Judge Richard Holwell granted Vivendi’s motion to dismiss claims by a slew of individual investors who allege Vivendi misled them about its financial health in connection with a series of massive deals between 2000 and 2002. The investors purchased ordinary Vivendi...
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