SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Toshiba Corporation
NEW YORK, June 2, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Toshiba Corporation. ("Toshiba" or the "Company") (OTC: TOSYY). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether Toshiba and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 10, 2015, BARRON'S ASIA published a report which stated that Toshiba "[f]ell 16.7% this morning on Tokyo after the electronics maker launched an accounting probe into its infrastructure business division and withdrew its 2014 earnings forecast. Toshiba also said it would not pay dividend this year.
Until now, the accounting investigation has focused on power systems, social infrastructure and community solution units in Japan and overseas. "Several construction projects have understated costs," according to a spokesperson from Toshiba. Toshiba earned about 11% of its operating income from its power and social infrastructure business in 2013."
Following this news, shares of Toshiba fell $2.57 per share, to $20.90, or more than 12.29%, on May 11, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of Toshiba, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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