The Shareholders Foundation announces that an investor, who purchased shares of Toshiba Corp (USA) (OTCMKTS:TOSYY, OTCMKTS:TOSBF), filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Toshiba Corp in connection with certain allegedly false and misleading statements made between May 8, 2012 and May 7, 2015.
Investors who purchased a significant amount of shares of Toshiba Corp (USA) (OTCMKTS:TOSYY OTCMKTS:TOSBF) between May 8, 2012 and May 7, 2015, have certain options and for certain investors are short and strict deadlines running. Deadline: August 3, 2015. Toshiba investors should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Toshiba Corp (USA) (OTCMKTS:TOSYY, OTCMKTS:TOSBF) common shares between May 8, 2012 and May 7, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 8, 2012 and May 7, 2015 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. When the true details entered the market, the lawsuit claims that investors suffered damages.
Shares of Toshiba Corp (USA) (OTCMKTS:TOSYY) traded in 2013 as high as $32.91 per share. Toshiba Corp reported that its Total Revenue rose from over $45.89 billion for the 12 months period that ended on March 31, 2013 to over $52.1 billion for the 12 months period that ended on March 31, 2014 and that its respective Net Income declined from $619.96 million to $407.28 million. Then on May 8, 2015, Toshiba Corp announced in three separate announcements that it established an independent investigation committee, that it revised its previous forecast for the full year business results of the company for its FY 2014, and that it decided not to pay a dividend with respect to the record date of March 31, 2015.
Those who purchased shares of Toshiba Corp (USA) (OTCMKTS:TOSYY, OTCMKTS:TOSBF) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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