Edgar Bronfman jr ‘insider trading’ trial
p2pnet view Music | P2P:- “Edgar Bronfman Jr. is famous for two things”, says Jeff Baker in his review for The Oregonian of Fred Goodman’s Fortune’s Fool: Edgar Bronfman Jr., Warner Music, and an Industry in Crisis.
“The annoying thing is that though he was born rich as Croesus, he has opted to work hard every day. The unforgivable thing is that he managed to lose $3 billion while doing so.”
Bronfman, former owner of the Choruss music licensing ‘initiative’ , “faces charges in relation to his time as an executive in French media conglomerate Vivendi SA”, said the CBC last year.
He was accused of insider trading.
Bronfman runs Warner Music, one of the Big 4 labels which believe the way to win the hearts and wallets of customers is to call them criminals and thieves, and then sue them.
Also charged was Jean-Marie Messier, “who transformed a stodgy water company into media giant Vivendi Universal”, said the CBC.
In January,2009, “a jury in New York found Vivendi liable in a securities class action suit but exonerated Messier of any responsibility”, said France 24, going on:
“Among the defendants is businessman Edgar Bronfman Jr., the heir to one of Canada’s best-known corporate dynasties, the Seagram group. Bronfman stands accused of insider trading in connection with his role as a Vivendi vice chairman, a post he acquired following the media conglomerate’s 2000 purchase of Seagram’s entertainment division.”
“The trial is scheduled to end June 25, with a verdict later this year”, said Bloomberg Businessweek last summer.
Bronfman’s lawyer asked a Paris court to drop insider trading charges at a Paris trial over whether Vivendi SA executives misled investors, it said, adding Bronfman was cleared by investigators “and the case should never have been sent to tria”l, his lawyer, Georges Kiejman, said on the first day of the 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’.”
Fair enough. But it’s not only later this year, it’s the beginning of 2011, so what was the court’s verdict?
They must have come to a decision by now, but we haven’t been able to find it.
Does anyone know?
Stay tuned.
The Oregonian – Nonfiction review: ‘Fortune’s Fool’ by Fred Goodman, July 31, 2010
Choruss music licensing – Choruss, unbound, March 26, 2010
CBC – Bronfman’s Vivendi insider trading trial begins, June 2, 2010
insider trading – Edgar Bronfman jr ‘insider trading’ charge, June 2, 2010
France 24 – Former Vivendi chief Messier goes on trial in Paris, February 6, 2010
Bloomberg Businessweek – Bronfman Asks Paris Court to Drop Charge at Vivendi Fraud Trial, June 2, 2010
First they ignore you, then they laugh at you, then they fight you, then you win ~ Mahatma Gandhi
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January 3rd, 2011 at 6:28 pm
” Fair enough. But it’s not only later this year, it’s the beginning of 2011, so what was the court’s verdict? ”
http://www.p2pnet.net/story/13629
” During an interview, “We asked Edgar Bronfman, the head of the world`s fourth largest music company, at the Reuters Summit whether any of his seven kids stole music,” said Reuters, and, “I’m fairly certain that they have, and I`m fairly certain that they`ve suffered the consequences,” Bronfman stated, going on:
I explained to them what I believe is right, that the principle is that stealing music is stealing music. Frankly, right is right and wrong is wrong, particularly when a parent is talking to a child. A bright line around moral responsibility is very important. I can assure you they no longer do that.`”
I’m certain it’s been explained to him, he’s surely suffered the consequences, and he can assure us he won’t do it again.
I might just vomit.
January 3rd, 2011 at 8:26 pm
“Mr. Bronfman should not be before this court,” Kiejman said. The investigating judge was wrong to send Mr. Bronfman to trial ‘without any explanation’.”
Oh rilly? But wait! What about the victims of the false accusations posed by Bronfman and his cohorts in the RIAA and MPAA? They’re being accused of something that really shouldn’t be a crime in the first place: filesharing. If they have to put up with being put in court for something that’s not really a crime, why should he get off with something that essentially IS a crime?