NEW YORK, February 26, 2016 - Baker Botts L.L.P. today announced that it successfully represented Liberty Media in the settlement of its lawsuit against Vivendi Universal S.A. Under the agreement, Vivendi S.A. has paid $775 million to Liberty.
The lawsuit stemmed from a complex transaction between Vivendi and Liberty Media in 2001. After a four-week trial, a jury sitting in the Southern District of New York found Vivendi liable for breach of contract and securities fraud, and awarded Liberty Media €765 million (excluding interest). Today’s settlement will result in a dismissal of all appeals and mutual releases of the parties.
Lawyers from Baker Botts represented Liberty Media in the original jury trial as well as in the settlement.
“This settlement brings to a close one of the highest profile securities fraud cases in the last twenty years. We are delighted that Liberty Media has reached a fair and equitable resolution of this case,” said Michael Calhoon, a Partner in Baker Botts’ Washington D.C. office and the lead lawyer on this case.
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