SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Toshiba Corporation - TOSYY
NEW YORK, June 1, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Toshiba Corporation ("Toshiba" or the "Company") (OTC MKT: TOSYY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
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."
On this news, shares of Toshiba fell $2.57 per share, to 20.90, or more than 12.29%, on May 11, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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