TV.US
id: 676, Created by Stan Vick Chase, Scout
Grupo Televisa, S.A.B. (TV) $95M Shareholder Settlement
How it works?
- Company agreed to settle with investors to avoid further litigation
- We prepare documents and claim payout for you
Claim deadline for this case already passed by, but we can still try and file for compensation for you
S.D. New York
Court18-cv-1979-LLS
Case number11 Apr 2013
Class period Start17 Nov 2017
Class period End08 Aug 2023
Claim deadlineGrupo 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
Filing date
05 March 2018
Plaintiffs
Palm Tran, Inc. Amalgamated Transit Union Local 1577 Pension Plan
Attorneys
Boies Schiller Flexner LLP
Defendants
Emilio Fernando Azcárraga Jean III, Salvi Rafael Folch Viadero
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