Quote Originally Posted by senseiman View Post
I think this is a cut above the run-of-the-mill anti-Nova lawsuit, Usually the government doesn't get involved. Its definitely not the end of the world for NOVA but this time they are getting way more bad publicity and may face administrative action by the government (as opposed to just paying damages to aggrieved clients). I read that NOVA's stock dropped about 14% the day this story came out.
It isn't the end of the line by any means, although this ruling today by the Japanese Supreme Court today did go against the company and agreed that refund amounts for cancelled contacts were systematically undercalcuated.
As a result, NOVA has been ordered to compensate the plantiff more than 300,000 yen and will be threatened with a freeze on admitting new students for noncompliance. Anyone know how much their stock price went down the day this ruling was announced ? The publicity is getting more and more damaging. It'll be really interesting to watch the fallout from all this on pending cases as well as NOVA's overall financial health and corporate viability.

http://search.japantimes.co.jp/cgi-b...0070404a1.html