Jun. 16. 2008
Regarding the lawsuit filed against Marubeni by an affiliate of Lehman Brothers, Inc., we explained in our press release on April 12, 2008 that Marubeni as a company had no involvement in the alleged fraud and forgery of any of the documents concerned and, accordingly, we have no payment obligations whatsoever.
According to today’s news, Shingo Yamaura, a former contract employee of Marubeni, together with Shigenori Saito, a former president of Asclepius Ltd. and Yuzuru Yamanaka, a former president of LTT Bio-Pharma Co., Ltd., were arrested on suspicion of fraud and forgery of certain documents. Marubeni disciplinarily terminated Mr. Yamaura as of March 10 based on his admission obtained during our internal investigations that he allowed unauthorized access to a Marubeni conference room at the direction of Mr. Saito and Mr. Yamanaka.
We reported this criminal incident to the police and have been fully cooperating with the police investigation. We will continue to fully cooperate with the police investigation in the hope that the investigation will reveal the facts of this incident.