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TOKYO (AP) - The Japanese broadcaster Fuji TV sued former dot-com luminary Livedoor on Monday for $292 million in damages over losses it absorbed after buying a stake in the since disgraced Internet portal company.
The lawsuit, filed by Fuji Television Network Inc. in Tokyo District Court, seeks compensation for the loss in value of nearly 134 million Livedoor shares the Tokyo-based broadcaster bought in 2005 for 44 billion yen ($373 million) as part of an alliance.
Fuji took a substantial loss when it later sold the shares to Livedoor's new partner, Usen Corp., for about 9.5 billion yen ($80.5 million).
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