PARIS (AP) — Shareholders from the U.S. and multiple countries took entertainment conglomerate Vivendi Universal to court in Paris on Tuesday to demand up to $1 billion in damages for allegedly hiding its massive debts and other financial troubles from investors 20 years ago. Vivendi — whose holdings currently include Universal Music Group, Gameloft video game producer and cable network Canal+ — was accused of providing fraudulent information to shareholders between 2000 and 2002 in the trial held Tuesday in the Paris commercial court. Vivendi’s high-flying CEO at the time, Jean-Marie Messier, vaunted the company’s financial health even as it was bleeding cash, according to internal company documents read at the trial.Read more on NewsOK.com
Ex-shareholders Demand $1 Billion From Vivendi Universal
NewsOK.com RSS - business >> !The Oklahoman, Daily Oklahoman: Business
Tue, 03/09/2021 - 2:28am
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