Komazawa suit over losses tossed

JIJI

Komazawa University has lost a damages suit against Deutsche Securities Inc. over massive losses it incurred through financial derivatives trading.

The Tokyo District Court turned down the university’s claim for ¥6.952 billion in damages in a ruling Tuesday.

Komazawa had argued that the transactions were in breach of public order and morals, but the court said the school’s right to seek damages from the securities house expired under the terms of their contract.