"Investigators probing alleged financial irregularities by Franco-American media giant Vivendi Universal have raided the firm's Paris headquarters. The authorities are looking into allegations that the company published false financial information in an effort to boost its share price while former chief executive Jean-Marie Messier was in charge."

There is a related shareholder action pending concerning financial statements made by Vivendi in 2001-2002. The company is also under investigation by the SEC and by Eliot Spitzer's boys in the Southern District of New York.

The BBC has further details.

-- MDT

Labels: Eliot Spitzer