Shareholders Failed To Plead Reliance In Making Securities Claims, Judge Rules
(May 2, 2016, 9:30 AM EDT) -- NEW YORK — A federal judge in New York on April 25 granted summary judgment in favor of a defendant in a securities class action lawsuit, ruling that shareholders failed to properly plead reliance in making their federal securities law claims (In re Vivendi Universal S.A. Securities Litigation, No. 02-5571, S.D. N.Y.; 2016 U.S. Dist. LEXIS 55234).
(Opinion available. Document #57-160516-002Z.)
A class of shareholders argued in the U.S. District Court for the Southern District of New York that Vivendi Universal S.A., a French company, Chief...