Televisa reached an agreement with investors for the FIFA bribery case

Grupo Televisa SAB reached an agreement with investors in a case related to their alleged role in a fifa bribery schemeaccording to a statement from a federal court.

The parties’ letter to the court for the Southern District of New York, dated January 13, did not disclose the terms.

The settlement comes two months after the US Court of Appeals for the Second Circuit declined to immediately review a decision giving class action status to investors who traded in their shares over a period of more than four years.

Televisa had said in its petition for review that the length of the class action period created a massive stock action that exerted “hydraulic” pressure to reach a settlement.

Meanwhile, a prosecutor in a criminal case against two 21st Century Fox executives told jury Tuesday that the pair bribed soccer officials to win lucrative broadcast rights for Fox in South America. Televisa has long owned the lucrative broadcasting rights to the main soccer tournaments in Latin America.

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The investors in this case alleged that a Televisa affiliate bribed officials of the International Federation of Association Football to Secure the rights to the 2018, 2022, 2026 and 2030 World Cup matches.

Televisa denied in its brief to the Second Circuit having obtained bribes. The company showed no class action certification or, at most, a class action period of only six months.

The parties involved in this case have said they intend to seek preliminary approval of the deal by February 10.

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