Off To The Races

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?'”

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