Securities suit arises from Toshiba’s accounting scandal

FRT Admin
Site administrator
August 26, 2015

Toshiba htoshibaas recently been under fire for an accounting scandal representing an overstatement of profit by $1.2 billion. The CEO has resigned as along with eight of the 16 board members. In the last year, Japan has been trying to regain the trust of international investors to increase foreign investment in Japanese companies.  This approach may be in jeopardy considering Toshiba could be facing a rather large securities suit in the wake of the accounting scandal.

Japan does not have a “class action” law in place, but group securities litigation still occur. Since Japan has been focused on retaining foreign investors, it will be interesting to see the impact the Toshiba scandal may have on future investments in Japanese-based companies.

Read more about the Toshiba accounting scandal here

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Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.