No sooner does France announce that it may permit class actions than the first securities class action appears. Reuters reports that a French lawyer has launched a class action against Vivendi Universal on behalf of small shareholders. The company already faces a similar suit in the U.S.
Quote of note: "'Until now, no one has had the courage to do this' in France, Canoy told Reuters. 'But why can the Americans do certain things and not the French?'"Posted by Lyle Roberts at July 6, 2005 8:00 PM | TrackBack