Cravath Beats Fraud-on-the-Market Presumption in Vivendi Case

, The Litigation Daily

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It's super rare for securities defendants to successfully rebut the fraud-on-the-market presumption of reliance to beat a case. So while the immediate stakes weren't that high (around $3.5 million), it counts as a real victory for Vivendi and its lawyers at Cravath that they managed to pull it off last week.

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