PARIS (dpa-AFX) - Liberty Media Corp. (LMCA, LMCB) announced on Monday that it 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.
Liberty said that the jury awarded the company damages in the amount of EUR 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. Liberty said although the company expects the defendants to ask the Court to set aside the verdict during this process, it is confident that the Court will deny that request and that the jury's decision will stand.
The company said the dispute arose out of a commercial transaction between the parties to the action and the former USA Holdings, Inc. that occurred during 2002.
Copyright RTT News/dpa-AFX