Tepco shareholders seek to hold board of directors responsible for Fukushima Daiichi catastrophe

The Asahi Shimbun reports that 42 Tokyo Electric Power Company (Tepco) shareholders are seeking to hold 61 current and former Tepco board of directors members financially liable, to the tune of $71 billion, for the Fukushima Daiichi nuclear catastrophe. The shareholders blame the directors for not having taken action against earthquake and tsunami risks, even though government and even Tepco studies showed the potential for a severe earthquake offshore generating a 45 foot tall tsunami -- exactly what took place on March 11, 2011. The $71 billion would go toward compensating victims of the nuclear catastrophe, as well as decommissioning the Fukushima Daiichi nuclear power plant -- a project that Tepco has estimated will take at least 30 years.