Japan's Livedoor Ordered To Pay $88.2M To 6 Firms

Law360, New York (June 13, 2008, 12:00 AM EDT) -- A Japanese court has reportedly ordered Livedoor Holdings Co. to pay 9.54 billion yen ($88.2 million) to six companies that claimed they suffered major losses when an accounting fraud scandal broke involving the Internet service provider's predecessor.

The Tokyo District Court on Friday ordered Livedoor to pay Nippon Life Insurance Co., Chuo Mitsui Asset Trust and Banking Co. and four other trust banks for losses they suffered in the January 2006 stock drop, according to Kyodo News.

Livedoor's stock plummeted and was eventually delisted from the...
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