This lawsuit is for anyone who acquired securities in Grupo Televisa, S.A.B. (NYSE: TV) from April 11, 2013 through January 25, 2018.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, during the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company illegally bribed soccer officials for the rights to televise certain matches and failed to disclose the bribery thus making the Company's financial statements misleading because the statements failed to account for the funds used to bribe the officials and also because the statements contained income derived from an illegal and unrepeatable source, and also because the statements failed to disclose that the Company's actions could subject it to penalties and heightened regulatory scrutiny.
On November 14, 2017, Reuters reported that a prosecution witness in the trial of three former soccer officials testified that Grupo Televisa paid bribes to secure television rights for soccer matches. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume. Then, on January 26, 2018, the Company disclosed that its auditor found material weaknesses in internal controls since December 31, 2016. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Grupo Televisa, S.A.B. (NYSE: TV) from April 11, 2013 through January 25, 2018 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.