NEW YORK – A U.S. appeals court on Tuesday upheld a judgment against Vivendi SA in a long-running shareholder class action lawsuit accusing the French media group of defrauding investors in the early 2000s.
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The 2nd U.S. Circuit Court of Appeals in New York rejected Vivendi's appeal of a 2010 verdict by a federal jury finding it liable for violating federal securities laws, resulting in a $49.8 million judgment against the company in 2014.
(Reporting by Nate Raymond in New York; Editing by Chizu Nomiyama)