Exploring Corporate Governance Around the World

By Allison Garrett, Senior Vice President for Academic Affairs at Oklahoma Christian University

Monday, February 13, 2006

Livedoor Founder Charged

The New York Times is reporting that Takafumi Horie, the founder of Livedoor, was charged today with securities fraud. Prosecutors alleged that Horie and other Livedoor executives inflated profits in ValueClick, a subsidiary, to increase the price of Livedoor shares. Among the fraudulent actions alleged are the issuance of false and misleading press releases. The Japanese media is speculating that additional charges will be filed against Horie soon.

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