Legal Risks Relating to Past Transfers of Former Cybertrust Shares and Solicitation of Investments
First written in FY2022. 1 of 2 entries say "Mitigated", first in FY2024. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024MitigatedAnnual report
「Accordingly, the former company was not involved in either case, and the limitation period for tort-based damages claims has already expired. Therefore, even if individual investors who acquired the company’s shares at inflated prices or were victims of fraud were to seek damages from us, we do not believe that we would be liable and expect no impact on our financial position.」
Regarding past solicitation cases involving former Cybertrust shares, the company explicitly states that there was no company involvement or liability for damages and that there would be no impact on its financial position. - FY2022First statedAnnual report
「Regarding shares of former Cybertrust Corporation, we are aware of the following cases: (1) after a former officer of the company transferred shares he held in the company to a third party, a broker who subsequently acquired the shares solicited individual investors from around 1998 to around 2010 by falsely stating that the company's shares were scheduled to be listed, and transferred the shares to individual investors at high prices; and (2) from around December 2003 to around August 2008, a former officer of the company, in collusion with a third party, solicited investments from individual investors in an investment partnership investing in the company's shares by making similar false statements, thereby defrauding the individual investors of money.」
The company disclosed past cases involving false statements and investment solicitations relating to former Cybertrust shares, as well as the possibility that approval for share transfers was lacking, and explained the risk of disputes over the company's liability and ownership of the shares.