SAN DIEGO, June 15, 2021 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in Toshiba Corp (USA) shares.
Investors, who purchased shares of Toshiba Corp (USA) (OTCMKTS: TOSYY, OTCMKTS: TOSBF) long-term and continue to hold any of those Toshiba Corp shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On June 4, 2015, a lawsuit was filed against Toshiba. The plaintiff alleged that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the total amounts of contract costs for certain infrastructure projects were underestimated, that the timing in which such contract losses and provisions for contract losses were recorded was improper, and that as a result of the foregoing, Toshiba’s public statements were materially false and misleading at all relevant times.
On May 20, 2016, the court granted the defendants' motion to dismiss with prejudice.
On July 25, 2016, a notice appealing the court's dismissal order from May 20, 2016 was filed and on July 17, 2018, the Court of Appeals issued a memorandum reversing the decision of the District Court and remanding for proceedings consistent with their opinion.
On July 8, 2019, the Court issued an Order reopening the case and gave the plaintiffs leave to amend the Complaint.
On August 8, 2019, a second amended and consolidated complaint was filed and on September 19, 2019, the defendants filed a Motion to Dismiss that complaint.
On January 28, 2020, the Court issued an Order denying Defendant's Motion to Dismiss.
Those who purchased Toshiba Corp (USA) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.