Televisa Hit With Investor Suit Over Bribery Allegations
Law360 (March 6, 2018, 3:12 PM EST) -- Investors of Mexico-based Televisa Group hit the company with a putative class action suit in New York federal court Monday claiming they purchased American depository receipts at artificially inflated prices because the company and its executives allegedly contributed to a $15 million bribe to secure rights to FIFA broadcasts.
A Televisa Group shareholder, Melvin Gross, filed the suit on behalf of himself and other investors, alleging that November testimony in the FIFA corruption trial that linked the company and two of its executives to a $15 million bribe paid to a FIFA executive, Julio Humberto Grondona, resulted in the ADRs' price...
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