Liberty Media Corporation Wins Jury Verdict in US District Court
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
Liberty Media Corporation ("Liberty") (Nasdaq: LMCA, LMCB) announced
today that it received a favorable jury verdict in its case against
Vivendi Universal S.A., et. al. which was tried in the United States
District Court for the Southern District of New York. The jury awarded
Liberty damages in the amount of €765 million in connection with a
finding of breach of contract and fraud by the defendant. Liberty
intends to seek pre-judgment interest on the jury award. Judgment,
however, will not be entered until the Court rules on any post-trial
briefing. Although Liberty expects the defendants to ask the Court to
set aside the verdict during this process, Liberty is confident that the
Court will deny that request and that the jury's decision will stand.
The dispute arose out of a commercial transaction between the parties to
the action and the former USA Holdings, Inc. that occurred during 2002.
Liberty was represented by Baker Botts L.L.P. in the action. The
defendants were represented by Weil Gotshal & Manges LLP and Cravath
Swaine & Moore LLP.
About Liberty Media Corporation
Liberty Media (Nasdaq: LMCA, LMCB) owns interests in a broad range of
media, communications and entertainment businesses, including its
subsidiaries Atlanta National League Baseball Club, Inc. and
TruePosition, Inc., its interests in Starz, LLC, SiriusXM, Live Nation
Entertainment and Barnes & Noble, and minority equity investments in
Time Warner Inc. and Viacom.
Courtnee Ulrich, 720-875-5420
Source: Liberty Media Corporation
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