Page 353 - 2012 Annual Report

353
VIVENDI l 2012 l Annual Report
FINANCIAL REPORT – CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE
CONSOLIDATED FINANCIAL STATEMENTS – STATUTORY AUDITORS’ REPORT ON THE FINANCIAL STATEMENTS –
STATUTORY FINANCIAL STATEMENTS 4
4
IV - VIVENDI SA 2012 STATUTORY FINANCIAL STATEMENTS
3. NOTES TO THE 2012 STATUTORY FINANCIAL STATEMENTS
Note 24 Litigation
On January 9, 2013, the Court confirmed the jury’s verdict. It also awarded
Liberty Media pre-judgment interest accruing from December 16,
2001 until the date of the entry of judgment, using the average rate of
return on one-year U.S. Treasury bills. On January 17, 2013, the Court
entered a final judgment in the total amount of €944.8 million, including
pre-judgment interest, but stayed its execution while it considered two
pending post-trial motions, which were denied on Februrary 12, 2013.
On February 15, 2013, Vivendi filed with the Court a Notice of Appeal
against the judgment awarded, for which it believes it has strong
arguments.
On the basis of the verdict rendered on June 25, 2012, and following the
entry of the final judgment by the Court, at December 31, 2012, Vivendi
recognized a provision in the amount of €944.8 million.
LBBW ET AL. AGAINST VIVENDI
On March 4, 2011, 26 institutional investors from Germany, Canada,
Luxemburg, Ireland, Italy, Sweden, Belgium and Austria filed a complaint
against Vivendi with the Paris Commercial Court seeking to obtain
damages for losses they allegedly incurred as a result of four financial
communications issued by Vivendi in October and December 2000,
September 2001 and April 2002. Then on April 10 and on April 23, 2012,
two similar complaints were filed against Vivendi: the first one by a
US pension fund, the Public Employee Retirement System of Idaho and
the other by six German and British institutional investors. Finally, on
August 8, 2012, the British Columbia Investment Management Corporation
also filed a complaint against Vivendi on the same basis.
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM ET AL. AGAINST VIVENDI
AND JEAN-MARIE MESSIER
On April 27, 2012, 67 institutional foreign investors filed a complaint
against Vivendi and Jean-Marie Messier before the Paris Commercial
Court seeking damages for losses they allegedly incurred as a result
of the financial communications made by Vivendi and its former
leader, between 2000 and 2002. On September 6, 2012, 24 new
plaintiffs joined these proceedings; however, in November 2012,
two plaintiffs withdrew from the proceedings.
LAGARDÈRE AGAINST VIVENDI, CANAL+ GROUP AND CANAL+ FRANCE
On February 12, 2013, Lagardère Holding TV, a 20% shareholder of Canal+
France, filed a complaint against Vivendi, Canal+ Group and Canal+
France with the Paris Commercial Court. The Lagardère group is seeking
nullification of the cash management agreement entered into between
Canal+ France and Canal+ Group on the grounds that it constitutes a
related party agreement and hence, is seeking restitution, under penalty,
from Canal+ Group, of the entire cash surplus given over by Canal+ France
under the agreement, i.e., the sum of €1.6 billion. Vivendi formally denies
the allegations of the Lagardère Group as to the nature of this agreement,
which should be considered ordinary course, and intends to vigorously
defend its rights.
VIVENDI’S COMPLAINT AGAINST FRANCE TELECOM BEFORE THE EUROPEAN COMMISSION FOR ABUSE
OF A DOMINANT POSITION
On March 2, 2009, Vivendi and Free jointly filed a complaint against France
Telecom before the European Commission (the “Commission”), for abuse
of a dominant position. Vivendi and Free allege that France Telecom
imposes excessive tariffs on offers for access to its fixed network and on
telephone subscriptions. In July 2009, Bouygues Telecom joined in this
complaint. In a letter dated February 2, 2010, the Commission informed the
parties of its intention to dismiss the complaint. On September 17, 2010,
Vivendi filed an appeal before the Court of First Instance of the European
Union in Luxemburg.