US lawyers investigate MultiChoice payments
US law firm Pomerantz issues a statement in New York saying it is investigating claims on behalf of Naspers’s investors
Naspers’s hopes of a speedy resolution to the high-profile controversy around payments its 80% subsidiary MultiChoice made to SABC and ANN7 were dealt a hefty blow on Tuesday when a US law firm, specialising in class actions, announced it was investigating the company. Pomerantz issued a statement in New York saying it was investigating claims on behalf of Naspers’s investors. “The investigation concerns whether Naspers and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices,” Pomerantz said. The law firm, which has been described by some US-based investors as the corporate equivalent of an ambulance chaser, has invited Naspers shareholders to join a class action. It pioneered corporate class actions and has been involved in many high-profile cases. “They’re not always successful but these are people you don’t really want looking into your business,” said an analyst. The firm did not respond to queries about the level of sup...
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