Telecoms and media company Vivendi has suffered a legal setback after a French judge allowed French shareholders to take part in a US-based class action lawsuit, according to Reuters.
Vivendi claimed that French investors could not participate in the…
Telecoms and media company Vivendi has suffered a legal setback after a French judge allowed French shareholders to take part in a US-based class action lawsuit, according to Reuters.
Vivendi claimed that French investors could not participate in the US-based suits because American laws on class actions did not comply with French laws.
In January, Vivendi was guilty of misleading investors between 2000 to 2002 with statements concealing liquidity problems.
The French company has set aside E55m to cover possible compensation.
