Even jail cannot protect the fallen Livedoor executives who deceived Japan while winning a lot of followers.
Fuji TV is seeking 35 billion in yen in damages from the Internet fraudster.
Fuji TV is seeking 35 billion in yen in damages from the Internet fraudster.
Nikkei.net reports "Fuji bought a 12.74 percent stake in Livedoor to end a high-profile battle with the Internet company to gain control over radio broadcaster Nippon Broadcasting System Inc. in 2005, but the sharp fall in Livedoor shares and the company's delisting last year prompted Fuji to sell the stake at a loss."
The Livedoor group conspired to pad the group's pretax balance by reporting billions of yen in profits when there should have been millions in losses.
Livedoor also lied about the acquisition of a publisher to raise stock prices.
Fuji TV thinks they are owed something for believing all those lies. Hmmm....it seems to me that Fuji TV should have sent a few of their investigative reporters to some serious due diligence before buying into Livedoor. No?
Fuji TV came out on the bad end of a bad business decision and wants the other party to pay for it.
I am not sure it works that way.
Do you think Livedoor should have to pay Fuji TV for believing their lies?
