All four of Takafumi Horie's lawyers who were representing the Livedoor Co. founder in litigation over his alleged securities law violations tendered their resignations to the Tokyo High Court on Aug. 25, the lead counsel said.

They decided to resign during talks with Horie after the court's July 25 decision, which upheld a lower court ruling sentencing Horie to 2 years in prison for his involvement in accounting fraud and other breaches of the law, Yasuyuki Takai said.

Horie accepted their resignations as they agreed on the need for a new perspective in his final appeal, Takai added, quoting the high-profile entrepreneur as saying, "Thank you for your support for a long time."

Junichiro Hironaka, who once served as chief counsel for Kazuyoshi Miura, a businessman who has been detained on Saipan over the 1981 fatal shooting of his wife, is among the lawyers who will represent Horie in his final appeal, according to sources.