Leopalace21 (JP:8848) has released an update.
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Leopalace21 Corporation is facing a shareholder derivative lawsuit filed by three individual shareholders against 23 current and former Directors and five Audit & Supervisory Board Members, alleging a breach of managerial duty and seeking over 3.5 billion yen in damages. The lawsuit claims improper financial management related to maintenance outsourcing expenses, but the company deems the lawsuit groundless and expects no impact on its business performance. This legal action follows a previous lawsuit concerning similar allegations of financial mismanagement.
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