In Paris, Vivendi SA has sued two investors and a shareholder rights group over their right to participate in the U.S. lawsuit against the company that has now proceeded to trial. Bloomberg reports that Vivendi contends that French shareholders must bring their cases in France, not New York. Notably, class action lawsuits are not permitted in France.
Vivendi stated that it will reduce its monetary demand in the French case to 1,000 euros “because the company is interested in the legal principle, ‘not a question of money.'” Vivendi’s case will reportedly be argued on Nov. 25 in Paris.
Read the Bloomberg.com article.
