Deals
Vivendi to Appeal $956 Million Verdict to Liberty Media
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Vivendi SA said it will appeal a $956 million verdict in a lawsuit over its 2001 purchase from Liberty Media Corp. of its stake in USA Networks Inc.
A jury in Manhattan federal court yesterday agreed with Liberty Media’s claim, filed in 2003, that Paris-based Vivendi misled it about a liquidity crisis at the company, artificially inflating the value of its shares, which it used to make the purchase. The verdict is the largest in the U.S. this year, according to data compiled by Bloomberg.