Breaking News

Lexar Launches the NM990 PCIe 5.0 SSD DJI Agras T100, T70P and T25P Launches Globally Sony Introduces the RX1R III Razer Introduces Next-Generation Connectivity and Performance with New Thunderbolt 5 Dock and Core X V2 Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance

logo

  • Share Us
    • Facebook
    • Twitter
  • Home
  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map

Search form

Toshiba Faces New Lawsuits Over 2015 Accounting Scandal

Toshiba Faces New Lawsuits Over 2015 Accounting Scandal

Enterprise & IT Jan 30,2017 0

Japanese trust banks will reportedly sue Toshiba over its 2015 accounting scandal, a new headache for the conglomerate as it scrambles to offset a separate imminent multi-billion dollar writedown.

The news reported by Reuters follows an announcement by Toshiba on Friday that it will sell a minority stake in its memory chip business to raise funds and that its overseas nuclear division was now under review.

Chairman Shigenori Shiga is ready to step down to take responsibility for the upcoming charge - estimated at around $6 billion, local media have also reported.

Mitsubishi UFJ Trust and Banking Corp said on Monday it is preparing to seek 1 billion yen ($8.7 million) in damages on behalf of its client pension funds after Toshiba's shares slid in the wake of the accounting scandal two years ago. The bank is a unit of Mitsubishi UFJ Financial Group.

Two other trust banks, Sumitomo Mitsui Trust Bank Ltd and Mizuho Trust & Banking Co are also preparing similar suits, Reuter's unnamed sourced added.

In October, Toshiba said 45 overseas institutional investors filed a suit seeking 16.7 billion yen in damages since it first admitted to reporting inflated profits going back to 2008. That is in addition to suits from 15 groups and individuals in Japan that total 15.3 billion yen.

Tags: Toshiba
Previous Post
Basemark Presents Comprehensive VR Benchmark For Your PC, Laptop
Next Post
Sony to Book Impairment Loss of 112.1 bil. Yen In Movie Business, Due To Low Blu-ray and DVD Sales

Related Posts

  • Toshiba Canvio Flex 2TB

  • Toshiba expands storage evaluation services in EMEA with new HDD Innovation Lab

  • Toshiba Unveils New Canvio Flex and Canvio Gaming 2.5” Portable Hard Drives

  • Toshiba Collaborates with PROMISE Technology on Providing the Optimal Data Storage Technology for CERN’s Large Hadron Collider

  • Toshiba Announces 24TB CMR and 28TB SMR Enterprise Hard Disk Drives

  • Toshiba Canvio Flex 4TB

  • Toshiba Canvio Basics 1TB

  • Toshiba’s next-generation S300 Pro Surveillance HDDs for large-scale video surveillance systems

Latest News

Lexar Launches the NM990 PCIe 5.0 SSD
PC components

Lexar Launches the NM990 PCIe 5.0 SSD

DJI Agras T100, T70P and T25P Launches Globally
Drones

DJI Agras T100, T70P and T25P Launches Globally

Sony Introduces the RX1R III
Cameras

Sony Introduces the RX1R III

Razer Introduces Next-Generation Connectivity and Performance with New Thunderbolt 5 Dock and Core X V2
Gaming

Razer Introduces Next-Generation Connectivity and Performance with New Thunderbolt 5 Dock and Core X V2

Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance
PC components

Transcend's New ESD420 Portable SSD Offers MagSafe Compatibility and Pro-Level Performance

Popular Reviews

be quiet! Light Loop 360mm

be quiet! Light Loop 360mm

be quiet! Dark Mount Keyboard

be quiet! Dark Mount Keyboard

be quiet! Light Mount Keyboard

be quiet! Light Mount Keyboard

Noctua NH-D15 G2

Noctua NH-D15 G2

Soundpeats Pop Clip

Soundpeats Pop Clip

be quiet! Light Base 600 LX

be quiet! Light Base 600 LX

Crucial T705 2TB NVME White

Crucial T705 2TB NVME White

be quiet! Pure Base 501

be quiet! Pure Base 501

Main menu

  • Home
  • News
  • Reviews
  • Essays
  • Forum
  • Legacy
  • About
    • Submit News

    • Contact Us
    • Privacy

    • Promotion
    • Advertise

    • RSS Feed
    • Site Map
  • About
  • Privacy
  • Contact Us
  • Promotional Opportunities @ CdrInfo.com
  • Advertise on out site
  • Submit your News to our site
  • RSS Feed