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TV.US
id: 676, Created by Stan Vick Chase, Scout

Grupo Televisa, S.A.B. (TV) $95M Shareholder Settlement

Pending settlement
11 April 2013
Class period Start
17 November 2017
Class period End
08 August 2023
Claim deadline
Grupo Televisa, S.A.B. (TV) settles $95M with Investors.

The complaint alleged that the Company & its Leaders made materially false and misleading statements about the Company's business, operations, and compliance policies, per the Complaint. It specifically claimed that the Defendants made false and/or misleading statements and/or failed to disclose that:
  • Televisa executives had engaged in an unlawful bribery scheme with FIFA executives;
  • if discovered, the aforementioned conduct would have subjected the Company to heightened regulatory scrutiny;
  • the Company lacked effective internal controls over financial reporting;
As a result of the aforementioned, Televisa's ADRs traded at artificially inflated prices during the Class Period, causing class members to suffer significant losses and damages.
Alleged Offence
Other
Suspected Party
Other
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Case number
18-cv-1979-LLS
Filing date
05 March 2018
Lead plaintiff
Palm Tran, Inc. Amalgamated Transit Union Local 1577 Pension Plan
Attorney
Boies Schiller Flexner LLP
Defendants
Emilio Fernando Azc√°rraga Jean III, Salvi Rafael Folch Viadero
Court
Southern District of New York
Judge
Hon. Louis L. Stanton
Administrator
Kroll
Court hearing date
18 August 2023
Exclusion deadline
10 July 2023
Objection deadline
18 July 2023
Hearing deadline
18 July 2023
+$95,000,000
Total Settlement Amount
Created by Stan Vick Chase, Scout

Grupo Televisa SAB ADR

Grupo Televisa, S.A.B. operates as a media company in the Spanish-speaking Mexico and internationally. It operates through three segments: Cable, Sky, and Other Businesses. The Cable segment operat...

    Ticker
    TV.US
    ISIN
    US40049J2069
    Sector
    Communication Services
    Industry
    Telecom Services
    Country
    USA
    Address
    Av. Vasco de Quiroga No. 2000, Mexico City, DF, Mexico, 01210