WASHINGTON, August 11, 2008 (AFP) - Over 12,000 investors around the world will soon receive checks to compensate them for misleading financial reporting by French firm Vivendi Universal, US officials said Monday.

More than 48 million dollars is being distributed to shareholders of the Paris-based media and telecommunications giant in 16 countries, primarily in the United States and France, in relation to a US probe of Vivendi's financial reporting that was settled in late 2003.

'Today we are able to provide financial remediation to investors who were misled by Vivendi's false financial reporting,' said David Nelson, a regional director of the US Securities and Exchange Commission (SEC).

The checks being sent to Vivendi shareholders, including some 5,300 in the United States, are being disbursed from penalties and other payments made by the company and two former top executives following the SEC's probe.

The securities watchdog settled its investigation of Vivendi, its former chief executive Jean-Marie Messier and ex-chief financial officer Guillaume Hannezo, in December 2003 in relation to what it says was fraudulent financial reporting.

The company, Messier and Hannezo paid millions of dollars in civil penalites and other fees. They defendands did not admit or deny the SEC allegations.

SEC investigators charged that the company, Messier and Hannezo had improperly changed accounting reserves to meet Wall Street earnings targets among other allegations.

Vivendi controls the Universal Music Group and Groupe Canal and holds a 20 percent stake in NBC Universal among other assets.

Of the 12,115 investors who will be receiving checks, some 5,300 are in the US or receiving claims in dollars, and the remaining 6,300 claimants are from 15 countries, including more than 3,300 investors who bought shares on the Paris Stock Exchange.