Just three days after a federal jury decided that Vivendi SA must fork over $954.6 million in damages to Liberty Media Corp. for breach of contract, the French entertainment group’s CEO announced that he will step down from his position.
Liberty Media Corp. has reason to celebrate. A U.S. federal jury yesterday awarded the U.S. cable operator nearly $1 billion in damages in a lawsuit it filed almost a decade ago against French entertainment group Vivendi SA.
The sheriff is back in town. The Securities and Exchange Commission, fresh off filing a record number of cases in the 2011 fiscal year, Friday leveled a lawsuit at CPA Mark Konyndyk, formerly a manager at Ernst & Young, for insider trading.