French media giant Vivendi will have to pay damages that could total millions of dollars after a US jury found that it misled investors.
The jury agreed with a civil lawsuit brought by Vivendi investors that accused the company of exaggerating its financial health in 2001 and 2002.
However, former Vivendi bosses Jean-Marie Messier and Guillaume Hannezo were found not liable.
Vivendi said it would appeal against the verdict.
The case centred on Vivendi’s financial state between October 2000 and August 2002, during which time its shares lost about 90% of their value following a merger with French television group Canal+ and the acquisition of Universal Studios from Canadian company Seagram.
