A $9 million dollar settlement has been reached in the class action lawsuit filed against Japanese email service provider Crayfish Co., as well as several other defendants. The suit was filed by US investors who claimed that the company did not properly disclose facts regarding its parent company, Hikari Tsushin Inc, when Crayfish's stock was listed on the NASDAQ in 2000. Other defendants in the suit include Hikari Tsushin, and Nomura Securities Co.'s US unit who acted as the lead underwriter for Crayfish's listing. (Jun-09-03) [PRESS RELEASE]
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