JAPAN - Japan's Pension Fund Association (PFA) is preparing to sue Seibu Railway in a bid to seek compensation for losses incurred during 2004, when the rail group was thrown out of the Tokyo Stock Exchange for falsifying financial statements.
The lawsuit marks the first time a Japanese institutional investor has flexed its muscles and pursued legal action against a company. The PFA manages 1,400 corporate pension funds is believed to...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
