Processing your request

please wait...

Case Page


Case Status:    SETTLED
On or around 08/08/2023 (Date of order of final judgment)

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, operations 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. Defendants filed a Motion to Dismiss the amended Complaint on October 15. On March 25, 2019, the Court issued an Order denying Defendants' Motion to Dismiss.

Lead Plaintiff filed a Motion for Class Certification on October 30. On June 8, 2020, the Court issued an Order denying the Motion for Class Certification. On June 29, the Court issued an Order certifying a Class and appointing a Class Representative. Defendants filed a petition to appeal the Class Certification Order on July 24. On October 6, the Court of Appeals denied the Rule 23(f) petition.

On May 19, 2021, the Court issued an Order dismissing Lead Plaintiff's Lead Counsel from the case. This case was ordered stayed for 30 days to allow Lead Plaintiff to obtain new counsel. On October 8, the Court issued an Order confirming Class Counsel.

On February 28, 2023, the parties entered into a Stipulation of Settlement. The parties amended the Stipulation of Settlement on April 15. On April 20, the Court granted preliminary approval of the Settlement. On August 8, the Court granted final approval of the Settlement, including an award of Attorneys’ Fees and Expenses, and entered Final Judgment.

Protected Content

Please Log In or Sign Up for a free account to access restricted features of the Clearinghouse website, including the Advanced Search form and the full case pages.

When you sign up, you will have the option to save your search queries performed on the Advanced Search form.