The securities class action trial against Vivendi has gone to the jury, and a verdict could come as soon as Tuesday, the Financial Times reports. Vivendi is reportedly bracing itself against the possibility of a “billion euro” damages verdict, and stated that it would appeal any such verdict.
Arthur Abbey, lead counsel for the plaintiffs, told the FT that their damages expert estimated maximum total damages at €8bn ($11.5bn). Vivendi’s lawyer, Hervé Pisani, said the €8bn figure was “unfounded.”
Pisani also told Reuters that “[n]o-one can pretend to put a figure on the potential damages. It is totally impossible to give an estimate of the potential damages under the scenario where Vivendi would lose (the case),” he said.