HomeNewsFootballMexico

Televisa shareholders take legal action

Shareholders of Televisa have launched legal action against the Mexican media company after claiming they have lost “hundreds of millions of dollars” after the business allegedly paid bribes to secure Fifa World Cup rights.

The complaint, which was filed in federal court in New York on Tuesday, alleges that Televisa paid bribes via a subsidiary to secure coverage of the 2018, 2022, 2026 and 2030 editions of the football tournament, according to Buzzfeed.

The complainants – who are participants in the Colleges of Applied Arts & Technology Pension Plan, which owns shares of Televisa traded on the New York Stock Exchange – also allege that Televisa “cooked its books for years”. The complaint represents an amendment to a previous complaint filed against Televisa in March.

The shareholders are seeking class-action status, as well as compensation.

Televisa said: “The points made in the document have no legal foundation, and also contain important errors of fact. Using independent lawyers, Televisa conducted a detailed investigation that concluded that no activity related to corrupt practices had taken place.”