'Strange' Jury Verdict Raises Questions In Vivendi ADR Suit

Law360, New York (September 11, 2012, 11:13 PM EDT) -- A New York federal judge on Tuesday raised concerns over damage claims from a "strange" jury verdict sheet in a stock inflation class action against Vivendi Universal SA, saying the shares at issue, created during a three-way corporate merger, did not exist during part of the class period.

At a status conference Tuesday, U.S. District Judge Shira Scheindlin said that the class period for shareholders who held inflated American depositary receipts for Vivendi Universal lists five weeks in which the receipts did not exist. This raises...
To view the full article, register now.

Related

Sections

Case Information

Case Title

In re Vivendi Universal, S.A. Securities Litigation


Case Number

1:02-cv-05571

Court

New York Southern

Nature of Suit

Securities/Commodities

Judge

Paul A. Engelmayer

Date Filed

July 18, 2002

Law Firms

Companies

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.