Fictitious Purchases Wipe 10% Off Japanese Bookstore’s Shares
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A chain of second-hand bookstores may not immediately sound like the setting for a tale of stock-market volatility, but Bookoff Group Holdings Ltd. shares tumbled 10% Wednesday after discovering fictitious purchases by employees.
The drop for the Japanese main-street retailer, which has about 800 stores around the country, was the biggest since October and came on record volume.