Case Name: Grupo Televisa
Settlement Fund: $95,000,000
Claim Filing Deadline: August 8, 2023
Class Period: 4/11/2013 -- 11/17/2017
Symbol: TV
Grupo Televisa, the world's biggest Spanish language media company, scored quite a goal when they landed the broadcasting rights to the 2018, 2022, 2026, and 2030 Soccer World Cups-- aka, the world's biggest sporting event. World Cups are a main source of revenue for the company, and in their class action complaint against Grupo Televisa, plaintiffs claim that, "The Company has gone so far as to brag to investors about its contracting prowess in achieving media rights for these coveted events."
According to plaintiffs, it was not clever negotiating or the superiority of its broadcasting skills that secured these contracts. "Unbeknownst to investors," plaintiffs claimed in their Amended Class Action Complant, "it was not Televisa’s ingenuity but its bribery that landed the media rights to this crown jewel of sporting events. Televisa used a wholly owned Swiss subsidiary, Mountrigi Management Group Ltd. (“Mountrigi”), located near FIFA headquarters in Zurich, Switzerland, to carry out and conceal its scheme to bribe FIFA executives to illegally obtain the broadcasting rights... To cover its tracks, Televisa cooked its books for years – and got away with it until auditors discovered its skimming scheme in late 2017 after criminal testimony and ledgers of payments came to light."
Plaintiffs allege the bribes totaled "some $160 million." On October 26, 2017, The New York Times ran a story titled, “How Did a Tiny Swiss Company Quietly Secure Valuable World Cup TV Rights?” Plaintiffs argue that "Literally within hours of the publication" the CEO and CFO of Televisa resigned, and the share price suffered a nasty bicycle kick: "After this news, Televisa ADRs closed at $22.54 per share, down 5.6% on trading volume that exceeded 12.4 million shares."
This settlement is one of many this year over $50 million. There is also the $109 million Cardinal Healh settlement, the $107.5 million Micro Focus settlement, and the $300 million Wells Fargo settlement-- among others. So far the total settlement pool for settlements with deadlines in 2023 is over $2.5 billion, and we expect it to come close to (or exceed) $5 billion by year's end. If you have any questions about this litigation or any of the hundreds of other cases for which we are filing claims, then please give us a call at 312-204-6970.
Plaintiffs allege Alibaba's anti-competitive practices and a canceled IPO drove down stock price
CCC is Preparing Claims for Qualcomm Investors, Deadline Only Weeks Away
Plaintiffs allege Uber IPO was a "train wreck" for investors
Under Armour settles securities suit over allegations high inventories led to low profits
Apple, Boeing, and Weatherford Each Agree to Mega-Settlements
Alphabet Settles Securities Suit for $350 Million
Stock Loan Antitrust Settlement: A big opportunity should not be a big hassle
Alexion Pharmaceuticals Settles Securities Class Action over Alleged Illicit Sales Practices
Allegation that You’re in Bad Hands with Allstate Leads to $90 Million Settlement
Claim Forms Are Coming in the Payment Card Interchange Fee. CCC Can Help
Alexion Pharmaceuticals Settles Securities Class Action over Alleged Illicit Sales Practices
Allegation that You’re in Bad Hands with Allstate Leads to $90 Million Settlement
Claim Forms Are Coming in the Payment Card Interchange Fee. CCC Can Help
World Cup Bribery Scandal Leads to $95 Million Grupo Televisa Settlement
Case Profiles: The Kraft Heinz Company Securities Litigation and Fair Fund
Millions in Unsellable Inventory Leads to $109 Million Cardinal Health Securities Settlement
Securities Class Action Settlements in 2022 Hit Highest Levels in 15 Years
Micro Focus Settles Suit Alleging it Botched HPE Purchase for $107.5 Million
Wells Fargo Settles Securities Suit for $300 Million
Generic Drug Price-Fixing Allegations Lead to McKesson's $141 Million Settlement
Tesla Fends Off Securities Suit With Rare Victory in a Rare Trail
Elon Musk's Infamous 4-20 Tweet Leads to Rare Securities Litigation Trial
Barclays Massive Bond Over-Issuance Leads to a Securities Class Action
$809.5 Twitter Settlement Arrives at Last
How to Claim Your Piece of the $5.54 Billion Payment Card Settlement
Anti-competition Probes and Overexpansion Lead to Multiple Class Actions Against Amazon
How CCC Helps Investors Participate in Foreign Financial Litigations
Cryptic Tweet Leads to $40 Million Tesla Fair Fund
Nielsen Holdings, Market Share King, Settles Securities Suit over Its Own Market Troubles
Infrastructure Cost Overruns Leads to $129 Million Granite Construction Securities Settlement
Petrobras Fair Fund Offers $85.32 Million in Relief to Harmed Investors
Barclays and JPMorgan Settle Mexican Bond Antitrust Litigation for $20,700,000
Deadline Is Soon for the $27.5 Million GreenSky Securities Settlement
Symantec, now known as NortonLifeLock, Settles Securities Suit for $70 Million
Corrections Corporation of America Settles Securities Litigation over the Safety of Its Prisons
Twitter Securities Class Action Ends with an $809.5 Million Settlement
Honest Company, Boston Beer Company, Waterdrop, and Longeveron Face Securities Class Action Suits
Door Manufacturer JELD-WEN Settles Securities Suit Related to Price-Fixing Scandal
Allergan Settles Securities Suit Related to Price-Fixing Scandal for $130 Million
Nikola Trucks Scandal Leads to Securities Suit and a Criminal Indictment of Its Founder
Why Every Investor Needs a Class Action Claim Filing Partner
Willis Towers Watson Settles a Pair of Merger-Related Suits for $90 Million
Snap Settles Two Suits in State and Federal Court for $187,500,000
Another MBS Settlement: $275 Million Morgan Stanley Fair Fund
Santander Consumer Holdings USA Securities Class Action Provides $39 Million to Investors
Avon Settles Suit Over Brazilian Market Practices
The LIBOR Bondholder Settlement: Several Big Problems and One Simple Solution
Snap, Parent Company of Snapchat, Settles Suit Over Allegations They Understated Competition
Eight Years in the Making, First Solar Settlement Provides $350 Million to Harmed Investors
Coronavirus Related Securities Class Actions Arrive
GSE Bonds Antitrust Litigation Update
Equifax Data Breach Leads to Securities Litigation Settlement
Wells Fargo Fair Fund to Provide $500 Million to Investors
NERA Year-End Report for 2019: More complaints, bigger backlog of unresolved cases
GSE Bonds Claim Filing Deadline Extended to February 28, 2020
404 South Wells St., Suite 600,
Chicago, IL 60607 – United States
Phone: (312) 204-6970
Email:
info@chicagoclearing.com
Chicago Clearing Corporation is the
industry leader in class-action services.
2024 © Chicago Clearing Corporation. All rights reserved. Terms and conditions