Livedoor shuts door on claims

Japanese co. settles damages for unlawful Fuji bid

The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans.

The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares.

In January 2006 Livedoor prexy Takafumi Horie and other execs were arrested on charges of securities law violations, which included hiding the company’s real value, and its share price plummeted.

Fuji ended up unloading its Livedoor shares at a $38 million loss.

In Tokyo District Court, six former Livedoor execs, including chief financial officer Ryoji Miyauchi and director Fumito Kumagai, agreed to fork over $8.35 million to Livedoor corporate successor LDH Corp., which had been asking for $39.8 million.

Horie reached a settlement in December to the tune of $228.5 million in assets. He is still fighting criminal charges.

More Scene

  • 'Jumanji: Welcome to the Jungle' film

    Dwayne Johnson, Kevin Hart's 'Jumanji' Maintains 'Soul' of Robin Williams Original

    The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans. The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares. In January […]

  • John Cena Ferdinand

    'Ferdinand' Director on Why John Cena Was Perfect for Title Role

    The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans. The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares. In January […]

  • Asian-American Unforgettable Awards 2017

    'Westworld's' Leonardo Nam Says Seeing Asian Actors in ‘Star Wars’ ‘Feels Normal’

    The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans. The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares. In January […]

  • Mark Hamill'Star Wars: The Last Jedi'

    'Star Wars: The Last Jedi' Honors Late Carrie Fisher at Elaborate Premiere

    The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans. The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares. In January […]

  • Ajit Pai Free Speech

    FCC Chair Plays for Laughs at D.C. Event Amid Fierce Net Neutrality Debate

    The corporate remains of Japan’s once-mighty Internet startup Livedoor, felled by irregularities in its 2005 hostile bid for Fuji TV network, have settled damages claims for the financial shenanigans. The damages center on the deal Livedoor made with Fuji to end the bid, in which the net spent $48 million on Livedoor shares. In January […]

More From Our Brands

Access exclusive content