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US appeals court gives Toshiba investors another shot at suit

Published 07/17/2018, 05:05 PM
© Reuters.  US appeals court gives Toshiba investors another shot at suit
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  • An appeals court gives investors in Toshiba’s (OTCPK:TOSBF, OTCPK:TOSYY) US-listed securities another shot to show their losses related to misleading internal controls before the 2015 accounting scandal.
  • The 9th U.S. Circuit Court of Appeals says a lower court judge misapplied the law when dismissing the suit and that investors should be allowed to file an amended complaint.
  • The court said investors didn’t sufficiently demonstrate that Toshiba committed a “domestic” violation of federal securities law. But the court says it wouldn’t be futile for the investors to try again.
  • Now read: Selling Premium On Cisco And Arista


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