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BRIEF-France's Vivendi to pay $26.4 million to settle U.S. class action lawsuit
April 6, 2017 / 6:11 PM / 5 months ago

BRIEF-France's Vivendi to pay $26.4 million to settle U.S. class action lawsuit

April 6 (Reuters) - Vivendi

* Says will pay $26.4 million to settle remaining claims still in dispute in a securities class action lawsuit begun in the United States in 2002, putting the case to rest.

* This amount represents approximately one third of the total $78 million it will pay to resolve the entire litigation, including the judgments previously entered.

* The resolution of this litigation will result in a net reversal of provision of approximately 25 million euros in Vivendi's 2017 financial statements. Given that the provision had been already been deducted for tax purposes, this reversal will be taxed in 2017. Source text for Eikon: Further company coverage: ($1 = 0.9394 euros) (Reporting by Adrian Croft)

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