LDH Corp. has agreed to pay some ¥4.9 billion in compensation to shareholders of its predecessor, Internet venture Livedoor Co., for the sharp declines in Livedoor’s share price, LDH said Monday.
The agreement with 1,614 people and 13 firms was the fourth deal of its kind and the largest, the company said.
The recipients constitute about half of the plaintiffs who won in a redress suit at the Tokyo District Court in May.
The court ordered former Livedoor President Takafumi Horie and other former executives to pay some ¥7.6 billion in compensation for the company’s stock price plunges that followed the revelation of accounting fraud.
LDH has sued Horie, 36, and other former Livedoor executives for ¥36.3 billion.
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