DigitalCommons@NYLS

Title

Arthur Abbey, Class of 1959, was the lead attorney in what was considered the largest jury verdict in any securities class action lawsuit.

Creator

New York Law School

Preview

Description

In the In re Vivendi Universal, S.A. Securities Litig., 02 Civ. 5571 (RJH/HBP)(S.D.N.Y.), Arthur Abbey, Class of 1959 and Chair of the Board of Trustees, was the lead attorney for the plaintiffs in what was considered possibly the largest jury verdict in any securities class action. In the case, Vivendi was found liable of 57 counts of securities fraud for material misstatements regarding its financial health before a major merger with two other companies, and investors who bought stock based on those financial statements later lost money when the stock price fell.