| COMPANY |
Grupo Televisa S.A.B |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
18-cv-01979 |
| JUDGE |
The Honorable Louis Lee Stanton |
| CLASS PERIOD |
April 11, 2013 - January 25, 2018 |
| SECURITY TYPE |
American Depositary Receipt (ADR) |
Case Background:
On March 5, 2018, the initial complaint in this securities class action was filed against Grupo Televisa S.A.B. (“Televisa” or the “Company”), and certain of Televisa’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf all investors who purchased or acquired Televisa American Depository Receipts (“ADRs”) from April 11, 2013 through January 25, 2018, both dates inclusive (the “Class Period”).
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Televisa executives engaged in an unlawful bribery scheme involving Federation Internationale de Football Association executives; (2) discovery of the foregoing conduct would likely subject the Company to heightened regulatory scrutiny; (3) the Company lacked effective internal controls over financial reporting; and (4) 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.
Current Status of Case:
On April 20, 2023, the Court issued an Order granting Preliminary Approval of Class Action Settlement. On August 8, 2023, a Final Settlement Hearing was held and the Court approved the settlement. This action has concluded.
The deadline to file a claim was August 8, 2023. You may find additional information regarding the terms of the settlement and claim filing process at https://www.grupotvsecuritieslitigation.com/ or by calling Kroll Settlement Administration at 1-833-630-8083.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.