PARIS, March 5 Vivendi said a New York
court had dismissed securities fraud claims made by GAMCO
Investors related to the 2001-2002 period when the group verged
on bankruptcy under former chief executive Jean-Marie Messier.
GAMCO Investors is a small group of investors who pursued a
separate legal case against Vivendi and did not join a
class-action lawsuit that Vivendi lost in 2010.
"The Federal Court dismissed GAMCO's claims as a whole on
March 1, determining that GAMCO did not rely on the integrity of
the market price in making their purchases of Vivendi stock and
that they would have made those purchases notwithstanding the
existence of an alleged liquidity risk," Vivendi said in a
A Vivendi spokesman said the group could use similar
arguments that the court validated in the GAMCO case in its
ongoing class-action claims process.
"In the claims process that is now underway in the class
action, Vivendi may make similar challenges to the claims of
individual shareholders as appropriate," Vivendi said.