Prosecutors Want Livedoor To Shell Out $2.5M In Fines

Law360, New York (September 14, 2006, 12:00 AM EDT) -- As Livedoor Co.'s securities fraud trial wraps up, prosecutors on Thursday demanded Y300 million ($2.5 million) in fines from the fallen Japanese Internet firm for a scheme to illegally boost stock prices and cook company books.

Prosecutors at the Tokyo District Court are also seeking a 50 million yen ($425,000) fine against Livedoor subsidiary Livedoor Marketing, according to the Associated Press.

Livedoor hasn’t fought the charges—its attorneys filed a guilty plea on behalf of the company.

But Takafumi Horie, the zealous Japanese businessman who launched the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.