Shareholder derivative lawsuit concerning a land transaction for a condominium development
First written in FY2020. 1 of 2 entries say "Materialised", first in FY2020. Latest entry: FY2022.
No other company in this theme has enough history to compare yet.
- FY2022Partial withdrawal of the claimsAnnual report
「Of the 4 directors at the time, the litigation against 2 was withdrawn in January 2022. As of the filing date, litigation concerning 2 former representative directors, the former chairman and the former vice chairman, remains ongoing.」
Of the shareholder derivative litigation concerning ¥5,559 million in damages, the claims against 2 of the 4 individuals were withdrawn in January 2022, and litigation against 2 individuals remains ongoing. - FY2020MaterialisedAnnual report
「As of the filing date, shareholder derivative litigation has been filed by the same shareholder successively since May 2018 against 4 of the company’s representative directors at the time, seeking payment by the company of ¥5,559 million in damages, plus delay damages, for the same amount of damage suffered by the company in a fraud case involving a land transaction for a condominium development. The stated grounds include errors in decisions concerning the execution of duties, breach of the duty to supervise and monitor other directors and employees, and breach of the duty of care of a prudent manager owed to the company.」
Shareholder derivative litigation has been filed seeking ¥5,559 million in damages and other amounts in connection with a past incident involving a land transaction for a condominium development.