Nikko Takes On Enron And Andersen

Japan's Nikko Asset Management, a division of Nikko Cordial Corp, confirmed Tuesday that it would join in a class action with three Japanese investment trusts against Enron and it's auditor Andersen.
The lawsuit has been filed in respect of losses incurred from Enron's alleged improper accounting practices.

The collapse of Enron in December triggered huge cancellations in a domestic fund managed by Nikko that contained bonds issued by the former energy giant.

Kazuyoshi Kimura, the head of Nikko Asset Management at the time, fell on his sword and resigned.