Nikko Cordial sues former directors over accounting scandal
Accountancy Age, 28 Feb 2007
Japanese listed broker Nikko Cordial will sue former directors, including its ex-CFO, over an accounting fraud at the company.
The firm said it was seeking 3.1bn Yen (£13.4m) from a number of directors, including its former president, private equity unit chairman and CFO Hajime Yamamoto.
The scandal at the company led to the replacement of PwC audit affiliate Misuzu as Nikko's auditor. Another PwC affiliate, Aarata, took its place.
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