Vivendi To Pay $775M To Settle Securities Suit Over USA Networks Acquisition

(February 29, 2016, 2:49 PM EST) -- NEW YORK — Vivendi Universal S.A. has agreed to pay $775 million to Liberty Media Corp. to settle claims that Vivendi misrepresented its dire financial condition in order to push through a proposed merger deal with Liberty Media in violation of federal securities law, according to a press release issued Feb. 26 (Liberty Media Corp., et al. v. Vivendi Universal S.A., et al., No. 03-2175, S.D. N.Y.).

The law firm of Baker Botts LLP, which represents Liberty Media, announced the deal, which is subject to court...
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