How They Won It: Cravath Thwarts $3.5M Vivendi Investor Suit

Law360, New York (March 25, 2013, 7:51 PM EDT) -- Cravath Swaine & Moore LLP successfully rebutted the so-called fraud-on-the-market presumption in defeating a $3.5 million investor suit accusing Vivendi SA of alleged misstatements and stock price inflation, using rigorous direct examination of the plaintiffs' witnesses and an unconventionally academic closing argument.

In the ruling, which followed a two-day bench trial that ended Feb. 19, U.S. District Judge Shira A. Scheindlin tossed a suit by a group of mutual funds and investment advisory plaintiffs affiliated with brokerage Gamco Investors Inc., handing the win to Vivendi, which...
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