Vivendi Investors Didn't Rely On Misstatements, Judge Says
Law360, New York (April 26, 2016, 5:57 PM EDT) -- A New York federal judge on Monday tossed the last claims yet to be resolved in a 14-year-old Vivendi SA shareholder suit after a jury found the media conglomerate liable for misleading investors, finding clients of one investment adviser weren’t relying on alleged misstatements.
U.S. District Judge Shira Scheindlin granted Vivendi’s motion for summary judgment on $1.84 million in claims asserted by 10 clients of investment adviser Capital Guardian Trust Co., ending the last of the “core disputes” yet to be decided at the district court level while Vivendi appeals a $50 million judgment awarded to the bulk of the investors....
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