Liberty Media (LMCA) Announces Favorable Verdict Vs. Vivendi Universal

June 25, 2012 5:24 PM EDT
Liberty Media Corporation (Nasdaq: LMCA)(Nasdaq: LMCB) received a favorable jury verdict in its case against Vivendi Universal S.A., et. al. which was tried in the United States District Court for the Southern District of New York. The jury awarded Liberty damages in the amount of €765 million in connection with a finding of breach of contract and fraud by the defendant. Liberty intends to seek pre-judgment interest on the jury award.

Judgment, however, will not be entered until the Court rules on any post-trial briefing. Although Liberty expects the defendants to ask the Court to set aside the verdict during this process, Liberty is confident that the Court will deny that request and that the jury’s decision will stand.

The dispute arose out of a commercial transaction between the parties to the action and the former USA Holdings, Inc. that occurred during 2002.

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