Darrois Villey Maillot Brochier advises Vivendi in the proceedings before the Paris Commercial Court, which rejected the claims for compensation of numerous institutional investors
Paris, 22 July 2021
On July 7, 2021, the Paris Commercial Court dismissed, in five separate rulings, the claims of approximately one hundred institutional investors who decided to sue Vivendi in France in 2011 and 2012, after being excluded from a class action in the United States of America. Investors claimed that Vivendi’s communications dating back to 2000-2002 were inaccurate and misleading and that they suffered stock market damages. The Court ruled in favor of Vivendi, dismissing all the investors’ claims (which amounted to more than ‘2 billion €) and ordering them to pay, jointly and severally, more than ‘3.5 million for Vivendi’s defense costs. The Court also granted provisional execution of its decision. These judgments are subject to appeal.
Darrois Villey Maillot Brochier has been assisting Vivendi in these proceedings since their inception, with Matthieu Brochier (partner), Christophe Ingrain (partner) and Tristan Gautier (associate), alongside Freshfields Bruckaus Deringer.
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