$9 Billion Verdict for Securities Fraud

Vivendi was hit by a jury in Federal Court in New York with a $9 billion verdict. The actual damages were about $4 billion but pre-judgment interest makes the verdict worth almost $9 billion. The plaintiffs are shareholders who allege that Vivendi made material misstatements about its financial health in 2001 and 2002. The jury found that Vivendi was liable for 57 separate misstatements.

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