Former Vivendi CEO On Trial In Paris
June 2, 2010 at 4:26 AM (PT)
Former VIVENDI Chairman/CEO JEAN-MARIE MESSIER, who oversaw the company's growth into media powerhouse VIVENDI UNIVERSAL, is facing trial in PARIS on charges he misled investors about the company's health as it took on billions of dollars of debt and neared bankruptcy, reports THE ASSOCIATED PRESS.
Also on trial is WARNER MUSIC GROUP CEO EDGAR BRONFMAN JR., who was a former executive at VIVENDI. BLOOMBERG reports BRONFMAN's lawyer, GEORGES KIEJMAN, told judges he had been cleared by investigators and that the case should never have been sent to trial. “Mr. BRONFMAN should not be before this court,” KIEJMAN said. The investigating judge was wrong to send Mr. BRONFMAN to trial “without any explanation.”
MESSIER reportedly could face up to five years in prison and euro350,000 in fines if convicted.