April 20, 2023. The Parties agreed to and the Court approved a $95 million settlement in a class action lawsuit filed against Grupo Televisa. Plaintiffs alleged that Grupo Televisa paid bribes to Fédération Internationale de Football Association (“FIFA”) executives for World Cup broadcast rights. According to Plaintiffs, the concealed scheme artificially inflated the market price of Grupo Televisa ADRs (American Depositary Receipts). Professor Steven Feinstein of Babson College and Crowninshield Financial Research, Inc. conducted research and provided expert testimony establishing that the securities traded in an efficient market, and the bribery scheme caused investor losses. Professor Feinstein also quantified the damages sustained.
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