Vivendi settles long-running dispute with institutional investors

1st Jul 2024 08:29

(Sharecast News) - French media conglomerate Vivendi announced the resolution of a long-running legal dispute on Monday, concerning financial communications from the early 2000s.

The CAC Next 20 company said it had reached a settlement agreement with institutional investors who pursued damages following the dismissal of their claims by the Paris Commercial Court on 7 July 2021.

It said the litigation stemmed from allegations that Vivendi's former management disseminated inaccurate financial information between 2000 and 2002, which investors claimed led to financial losses.

"This agreement, with no admission of fault or liability whatsoever, allows Vivendi to eliminate a litigation risk and puts an end to a dispute initiated in 2011 concerning events that occurred more than 20 years ago," the company said in its announcement.

At 1130 CEST (1030 BST), shares in Vivendi were up 1.44% at €9.90.

Reporting by Josh White for Sharecast.com.