News Japan's Yomiuri Shimbun Discusses Crayfish Securities Class Action with Ralph M. Stone Yomiuri Shimbun 10/09/2000

 

Shalov Stone & Bonner's investigation and initiation of a securities class action on behalf of purchasers of the securities of Japanese email company Crayfish Ltd. and against both Crayfish and Japanese Internet incubator Hikari Tsushin was highlighted in a lengthy article in Japan's Yomiuri Shimbun on October 9, 2000, entitled "Hikari Tsushin, Crayfish In Hot Water." The article describes the allegations that although Crayfish was dependent upon Hikari Tsushin for sales, at the time of Crayfish's American IPO, it failed to disclose that Hikari Tsushin was suffering from financial difficulties and was scaling back it support of Crayfish. The financial scandal has led to numerous class actions based on the investigation of Shalov Stone & Bonner.