Vivendi Hit With €765M Verdict Over Liberty Deal Disclosures

Law360, New York (June 25, 2012, 7:02 PM EDT) -- A federal jury said Monday that Vivendi Universal SA must pay Liberty Media Corp. €765 million ($956 million) in damages for lying about its financial state before using its stock to buy Liberty's stake in USA Networks Inc.

Liberty sued Vivendi, a French media conglomerate, in 2003 for breach of contract and securities fraud, claiming it had concealed financial troubles caused by massive debt Vivendi had taken on. Vivendi agreed in December 2001 to use stock worth about $10.3 billion to buy Liberty's stake in USA...
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