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Livedoor eyes damages suit against Horie, other ex-executives+(Japan Economic Newswire Via Thomson Dialog NewsEdge) TOKYO, March 23_(Kyodo) _ (EDS: TO BE LED) Livedoor Co. President Kozo Hiramatsu said Friday the company intends to seek damages from its convicted founder Takafumi Horie and other former top executives for their involvement in accounting fraud by the Internet and financial services firm. Livedoor's current management is to finalize whether to sue the former leadership after reading a final report to be compiled by the end of next month by an outside investigation panel, Hiramatsu said at a news conference. Horie and four other former Livedoor group executives have been found guilty by the Tokyo District Court for their roles in inflating the group's profits for the year through September 2004 and other securities law violations including stock market manipulation. On Friday, the court also convicted Livedoor as an entity on those charges, fining it 280 million yen. At the press conference, Hiramatsu said Livedoor sincerely accepts the ruling and has no plans to appeal it. Copyright 2007 Kyodo News International, Inc. |