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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 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 Shareholders applauded the decision to open the inquiry A Paris court granted Vivendi's request Monday for an extra month to make a bid for Cegetel 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 Paris Launches Vivendi Probe Oct 29, 1:43 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 of the United States Last week, the company took action to delay a bid by Britain's Vodafone PLC for Vivendi's telecommunications arm, Cegetel 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 Vivendi had sued Vodafone in a Paris commercial court to extend the Nov "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 After a protracted boardroom battle, Messier was replaced in July by Jean-Rene Fourtou, then a vice-chairman at French-German pharmaceutical giant Aventis Shares lost more than 70 percent of their value under his leadership in 2001 Vivendi already faces legal entanglements on several other fronts "This investigation will show that not only were the accounts exact but that the financial information was complete and transparent," Metzner said 10 deadline set by the British company Officials from Vivendi in Paris declined to comment Tuesday But a lawyer for Messier denied any wrongdoing 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 10, agreeing with its claims that Vodafone had not respected the terms of a shareholders' pact The court ruled that Vivendi should be given until Dec 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 But Olivier Metzner, an attorney representing Messier, said the probe will clear the much-maligned former chairman of any wrongdoing " American stockholders later filed a complaint as well "But other things are not so good, we need more security S "That drive has surpassed all our hopes," Bremer said S " "Iraq will have a chance for a good life, a life of also art and music," he added Kennedy Center for the Performing Arts, the artists said they hope for better days Once Iraq's pride, the orchestra survived several wars and Saddam Hussein's brutal dictatorship S -based orchestra librarians association known as MOLA and individual donors S " In June, the symphony orchestra gave its first concert since Saddam's ouster, playing patriotic songs that predated the former dictator The drive resulted in hundreds of orchestral music being provided for the Baghdad artists Two of dozens of individual donors were in Baghdad Friday Orchestra Important in Rebuilding Iraq Nov 14, 11:47 AM EST The U administrator in Iraq on Friday hailed efforts of the Iraqi National Symphony Orchestra to recapture a segment of normal life for tense Baghdad, still suffering from widespread insecurity and lack of basic services The complex includes Saddam's former palaces and other government buildings none of us will be intimidated by the terrorists and former regime members -guarded compound in the Iraqi capital, partitioned from the rest of the city by concrete walls, rolls of razor wire and sandbag bunkers Previously, the artists had no concert hall of their own but practiced in a stuffy downtown building without air conditioning and lightning As they practiced Grieg's Morning Mood from Peer Gynt, for a concert in Washington with the National Symphony on Dec "Your appearance now has a broader significance than ever before, as we face terrorist attempts to stop Iraq returning to normal," Bremer told the orchestra Paul Bremer, the U The Convention Center is part of the U Two months ago, Bremer launched an appeal to music organizations across the world to assist the Baghdad orchestra, a call taken up by a U "You play a very important role in that message, showing that (kk) administrator, met the musicians Friday after returning from talks this week in Washington on ways to speed up the transfer of power to an Iraqi-led government amid increased insurgent attacks against coalition forces Bremer, expressed thanks to donors worldwide for supplying the orchestra with badly needed music scores and sheets " L "This is our hall, our home, not the Americans'," said Hisham Sharaf, the orchestra director 9, at The John F Its musicians â€â€? Shiite, Sunni, Kurdish, Christian and Armenian â€â€? persevered through the looting and unrest that followed the regime's collapse Bremer also welcomed the 63-member orchestra to their "new home" at the Baghdad Convention Center As other daily arrivals, the musicians have to wait in long lines to pass security searches for weapons "Freedom has come, I can now speak openly what's on my mind," said oboe player, Taleen Shehranian, 23, an Iraqi Armenian Wafaa al-Natheema, who leads the Institute for Near East and African Studies, of Cambridge, Massachusetts, said the two brought spare parts for instruments and children sized instruments to help a music school in the Iraqi capital "Everyone of the most wanted works was acquired "I just wanted to help them, musicians like myself," said Allegra Klein, of New York, adding that she "felt right at home" with her Baghdad colleagues "All across Iraq people are working hard to return the country to normal," Bremer said I hope that day will come, too |
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