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Claimants withdraw Veolia class action lawsuit

Claim of "misleading" financial statements voluntarily dismissed

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Veolia has undertaken a number of wasterwater projects in the region. (GETTY IMAGES)
Veolia has undertaken a number of wasterwater projects in the region. (GETTY IMAGES)

Environmental firm Veolia has announced that a class action lawsuit filed against the company in New York has been withdrawn by the claimants. The purported claim, made against the firm and particular serving and former employee, alleged that the company had made “misleading” financial communications between 2007 and 2011 that allegedly violated the US Securities Exchange Act 1934.

Veolia has said that the counsel for the lead claimants informed the Court on May 25th that, “after careful consideration of the facts and circumstances involved”, the claimants had decided to voluntarily dismiss the action. The Judge, Victor Marrero, consequently signed an order to dismiss the action.

The lawsuit was originally filed on December 28th last year, and was then consolidated in a second suit on January 13th, 2012. The dismissal covers the consolidated lawsuit, so both suits have been dismissed.

Veolia stated at the time that they considered the allegations about financial communications to be without merit.

 

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