Vivendi loses U.S. appeal in shareholder lawsuit

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.

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)