NEW YORK : Grupo Televisa SAB has reached a $95 million settlement to resolve a U.S. investor lawsuit accusing the Mexican broadcaster of bribing FIFA soccer officials to win rights to four World Cup tournaments.
Televisa was accused of artificially inflating its ADR price by concealing how it schemed to obtain World Cup rights for 2018, 2022, 2026, and 2030 through bribery, while publicly touting its commitment to ethical business practices. FIFA is soccer's world governing body. Televisa denied wrongdoing in agreeing to settle. It did not immediately respond on Wednesday to requests for comment.
Its law firm Boies, Schiller & Flexner may seek up to $28.5 million of the settlement in fees and $3.5 million for expenses.
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