NEW YORK - Amada Co., Japan's largest manufacturer of metalworking machinery, has filed a lawsuit accusing Republic New York Corp. and two of its officers of fraudulently inducing Amada to buy securities from investment adviser Martin Armstrong that it says are now worthless.In papers filed Monday in federal court in New York, Amada seeks recovery of at least $123 million. The complaint accuses Republic, two of its subsidiaries, and two Republic officers - one now suspended and one who was replaced - of securities fraud.

A spokeswoman for Republic declined to comment on the lawsuit, which came one day before Republic shareholders were to vote on the proposed sale of the company to London-based HSBC Holdings.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.