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Story summary
- Nidec Corp. said founder Shigenobu Nagamori and other executives may face civil damages over accounting fraud.
- Nidec shares fell to a decade low, down over 38% and erasing $978 million from Nagamori’s wealth.
- PwC withheld its audit opinion, saying it could not obtain evidence as Nidec seeks sign-off to avoid delisting.
- Oasis Management founder Seth Fischer announced a 9% stake, becoming the largest disclosed shareholder and urging advisers.