U.S. investor files lawsuit against Saitama Bank. (Robert Wang)

PR Newswire | February 26, 1990 | Copyright

U.S. INVESTOR FILES LAWSUIT AGAINST SAITAMA BANK

LOS ANGELES, Feb. 26 /PRNewswire/ -- A U.S. stockholder in one of Japan's largest banks filed a lawsuit today against Tokyo-based Saitama Bank Ltd. and its directors claiming the defendants breached their fiduciary duty to stockholders, wasted and mismanaged the bank's assets and conspired to permit and commit illegal transactions.

The lawsuit was filed in the U.S. District Court, Central District of California by Los Angeles businessman Robert Wang. It is believed to be one of the few cases in which a U.S. ...

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