Posted by  Jon Newton in on September 17, 2003 at 2:17 PM
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The US Security and Exchange Commission says it's filed a lawsuit against Vivendi Universal in Federal Court in New York City, "to prevent Vivendi Universal from making a payment to Mr. Messier, pursuant to the recent arbitration award".
Jean-Marie Messier is the former Vivendi Universal chief executive who was fired following allegations of fraud.
The SEC lawsuit was "filed pursuant to Section 1103 of the Sarbanes-Oxley Act, which permits the SEC to freeze extraordinary payments to officers or directors during an SEC investigation," it says ina statement.
Vivendi Universal says it'll cooperate fully with the SEC.
The French-based company also facing a criminal investigation by France's Commission des Opérations de Bourse over claims that its investors were fed misleading information.
Vivendi says it'll cooperate fully in this too.
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User Comments
compmore
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Date: September 17, 2003 @ 2:29 PM
No matter what country they're from. business will always be business. Thank goodness there are those who watch over them
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 musicwantsto...
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Date: September 17, 2003 @ 3:16 PM
It's too bad that those who watch over them are all too often heavily funded by them.
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ZeonMusic
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Date: September 17, 2003 @ 3:26 PM
Ironic, isn't it. And of course those who have the money 3/4 of the time are the ones who get their way.
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 Jazzmary2U
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Date: September 17, 2003 @ 5:38 PM
I agree.. money is heavy.. but let me ask you ALL.. if you are a US Citizen, are you ready to vote? The governmental oversight is political, you know. And activitists.. noisy, informed, focused.. make a difference.. just ask the citizens of Montgomery, Alabama. Business will always be business, true, comp, but we gotta get a new slogan.. voters will always be voters..
BOYCOTT. EDUCATE. REGISTER. VOTE.
ARE YOU REGISTERED AND READY?
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Critto
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Date: September 17, 2003 @ 8:51 PM
Yee-hah! Each time one of the big-5 bastards gets a blow, it's a GOOD NEWS for us !!! Those rogues shall be DESTROYED by any legal, legitimate means (boycotts, lawsuits, criminal (also finance-related) investigations, and so on. Every real ENEMY of RIAAites is our friend. Go, SEC!! Go, EU!! Kick Vivendi Universal's ass, as it was never done before !!!
Cheerz!!
Critto
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captdunsel
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Date: September 17, 2003 @ 9:01 PM
1 down, four to go.
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kyodylee
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Date: September 18, 2003 @ 12:14 AM
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