Grupo Televisa, S.A.B. : American Depository Shares Securities Litigation
On or around 10/15/2018 (Ongoing date of last review)
Filing Date: March 05, 2018
According to the law firm press release, Grupo Televisa, S.A.B. operates media and entertainment businesses in the Spanish speaking world. The Company has interests in television production and broadcasting, programming, direct-to-home satellite services, publishing and publishing distribution, cable television, radio production, show business, feature films and Internet portals.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. The Complaint specifically alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (i) Televisa executives engaged in an unlawful bribery scheme involving Fédération Internationale de Football Association (“FIFA”) executives; (ii) discovery of the foregoing conduct would likely subject the Company to heightened regulatory scrutiny; (iii) the Company lacked effective internal controls over financial reporting; and (iv) as a result of the foregoing, Televisa’s ADRs traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
On May 17, 2018, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on August 6.
Company & Securities Information
Defendant: Grupo Televisa, S.A.B.
Industry: Broadcasting & Cable TV
Ticker Symbol: TV
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Melvin Gross, et al. v. Grupo Televisa, S.A.B., et al.