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10, agreeing with its claims that Vodafone had not respected the terms of a shareholders' pact 10 deadline set by the British company The court ruled that Vivendi should be given until Dec of the United States But Olivier Metzner, an attorney representing Messier, said the probe will clear the much-maligned former chairman of any wrongdoing In July, an association of more than 1,000 French shareholders, known as APPAC, filed a complaint that accused Vivendi of issuing "untruthful and fraudulent information" and "presenting an incorrect balance sheet and financial situation 5 million " American stockholders later filed a complaint as well Shareholders applauded the decision to open the inquiry Vivendi had sued Vodafone in a Paris commercial court to extend the Nov -traded shares of Paris-based Vivendi Universal fell 95 cents, or 7 percent, to $12 Prosecutor Opens Probe Into Vivendi Oct 29, 5:40 PM EST PARIS (AP) â€â€? Prosecutors opened an investigation Tuesday into whether Vivendi Universal under former chairman Jean-Marie Messier misled investors with falsified financial reports to buttress the media giant's beleaguered shares Once excited by Messier's vision, investors punished Vivendi's stock amid doubts about his ability to mesh the company's diverse businesses together and reduce its borrowings "This is a victory, even an achievement, because we didn't have the financial means to settle this complaint," said Frederik-Karel Canoy, a lawyer for APPAC Shares lost more than 70 percent of their value under his leadership in 2001 After a protracted boardroom battle, Messier was replaced in July by Jean-Rene Fourtou, then a vice-chairman at French-German pharmaceutical giant Aventis 04 Tuesday on the New York Stock Exchange Officials from Vivendi in Paris declined to comment Tuesday The investigation was prompted by a complaint filed by shareholders who allege the company under Messier's leadership deliberately misled investors into buying or holding Vivendi's stock Prosecutors' rejected for lack of evidence a separate shareholders' complaint alleging misuse of company funds related to Messier's salary and his company-financed New York apartment, which reportedly cost Vivendi $17 The media group is still struggling under billions of dollars in debt, racked up during a whirlwind of costly acquisitions under Messier as he worked to turn a waste utility company into a media and entertainment behemoth to rival AOL Time Warner Inc S A Paris court granted Vivendi's request Monday for an extra month to make a bid for Cegetel Last week, the company took action to delay a bid by Britain's Vodafone PLC for Vivendi's telecommunications arm, Cegetel "This investigation will show that not only were the accounts exact but that the financial information was complete and transparent," Metzner said The U But a lawyer for Messier denied any wrongdoing Vivendi already faces legal entanglements on several other fronts Paris prosecutors are trying to determine whether the company published false balance sheets for fiscal years 2000 and 2001 and issued deceptive information about its forecasts for this year and last, judicial officials said on condition of anonymity 9 during previews 'Six Dance Lessons' Comedy Closing Nov 21, 10:35 PM EST "Six Dance Lessons in Six Weeks," a comedy starring Polly Bergen and Mark Hamill, will close Sunday on Broadway after a run of only 30 performances "Six Dance Lessons" is the third Broadway show to close within the last two weeks Her standby, Kathleen Doyle, will play the remainder of the engagement "Oldest Confederate Widow Tells All" closed Monday, the day it opened, while "Bobbi Boland," starring Farrah Fawcett, folded Nov Richard Alfieri's play about a retired Florida school teacher and her dance instructor received mostly negative reviews when it opened Oct 99, and filling only 30 percent of the seats at the Belasco " "Six Dance Lessons" has done meager business since opening, last week grossing only $78,728 " Variety described the show as "a desiccated piece of Florida dinner-theater driftwood 29 at the Belasco Theatre The show was further hurt by the absence of Bergen, who missed performances because of a persistent leg injury The Associated Press called the play "innocuous" and said it recalled "wan Broadway comedies of years gone by, shows that inexplicably got to New York and then disappeared quickly |
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