Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased o otherwise acquired shares of Toshiba Corporation (OTC: TOSYY or TOSBF) (“Toshiba”) between May 8, 2012 and May 7, 2015, inclusive (the “Class Period”).
Toshiba Corporation investors may receive additional information about the case by clicking the link "Join this Class Action" above.
Toshiba is a Japanese corporation that engages in the research and development, manufacture, and sale of electronic and energy products worldwide.
According to the complaint, defendants during the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the total amounts of contract costs for certain infrastructure projects were underestimated; (2) the timing in which such contract losses and provisions for contract losses were recorded was improper; and (3) as a result of the foregoing, Toshiba’s public statements were materially false and misleading at all relevant times.
On April 3, 2015, Toshiba issued a press release announcing the establishment of a special investigation committee concerning the accounting of certain infrastructure projects.
On this adverse news, shares of TOSYY fell $1.23 per share or over 4% from its previous closing price to close at $24.56 per share on April 6, 2015 and shares of TOSBF fell $0.16 per share or over 3% from its previous closing price to close at $4.13 per share on April 6, 2015, thereby damaging investors.
If you are a member of the class described above, you may no later than August 3, 2015, move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706