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Vivendi's Bid To Reconsider Class Cert. Denied

Law360 (March 31, 2009, 12:00 AM EDT) -- A federal judge overseeing securities litigation against Vivendi SA has rejected Vivendi’s bid for partial reconsideration of a decision to certify a class that included French shareholders, despite Vivendi’s argument that French courts wouldn’t give preclusive effect to a judgment in an opt-out class action.

Judge Richard Holwell of the U.S. District Court for the Southern District of New York signed off on a 29-page opinion and order denying Vivendi’s motion for partial reconsideration on Tuesday.

“The court does not treat Vivendi’s concerns lightly, but the...
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