More Morality, This Time From Livedoor

May 21st, 2009 by alyx · No Comments · fail

livedoor-horie

Livedoor is a Japanese internet company that was delisted in 2006, amid allegations of fraduluent stock exchanges and falsifying its performance to attempt to justify its giant run-up. Their CEO, Takafumi Horie, is better known as Horiemon, has tried to buy a baseball team, hates wearing ties (despite the above evidence that he has donned one at least once in his lifetime), ran for Parliament, was trying to start a space program (named “Japan Space Dream — A Takafumi Horie Project”) and was basically an all-around dirty rockstar. My Google image search for him turned up a lot of pictures of butts. Pretty awesome guy.

Unfortunately for Horie, shareholders can sue you civilly for damages when you have led them down the road to ruin as a jeans-and-t-shirt-clad Pied Piper of Fail. That’s what they did, and they won:

Shareholders won damages Thursday from Takafumi Horie, founder of Internet startup Livedoor Co., in a class-action lawsuit that claimed people had been duped into making dubious investments in the Japanese company.

A court official confirmed the ruling but declined to elaborate. Kyodo News reported that the court awarded damages totaling 7.6 billion yen ($81 million). It said 3,340 individual and corporate shareholders had filed the lawsuit, which had demanded 23 billion yen.

Horie, however, admits no wrongdoing, and blames the entire situation on jealous muthaf**kaz drinking too much haterade:

“If you are not only famous but also make a lot of money, you need to be aware of the fact that there will be people around you who are going to be envious,” Horie told reporters last month. “They may eventually go to the public prosecutors office and give them information that will lead to your downfall.”

There’s to be a criminal case against him as well, so Horiemon may well be known as Prisonmon by the time this is over. Presumably, more haters will show up to testify in that case, as this was only the first leg in the hateathon.

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