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Shareholders to sue Tepco directors via The Japan Times

Forty-two Tepco shareholders who in November asked its in-house auditors to file a negligence suit against 60 of the utility’s board members seeking ¥5.5 trillion in damages over the Fukushima nuclear crisis, may sue the directors on their own after the utility declined to pursue legal action, sources said Thursday.

Tokyo Electric Power Co. will notify the 42 shareholders of its reason for refusing to file suit against the 60 current and former directors, the sources said.

After examining the utility’s reasons, the shareholders will start preparations to file a suit with the Tokyo District Court by the end of January, they said.

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By yukimiyamotodepaul – 2012/01/13

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