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Toshiba Corporation : American Depository Shares

Case Summary

Toshiba Corporation : American Depository Shares Securities Litigation

Case Summary

Case Status:    ONGOING    
On or around 08/08/2018 (Other)

Filing Date: June 04, 2015

According to the law firm press release, the lawsuit alleges 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. When the true details entered the market, the lawsuit claims that investors suffered damages.

On May 20, 2016, the Court issued an Order granting Defendant's Motion to Dismiss with prejudice. On July 25, Plaintiffs filed a Notice appealing the Court's Dismissal Order. On July 17, 2018, the Court of Appeals issued a memorandum reversing the decision of the District Court and remanding for proceedings consistent with their opinion.

Company & Securities Information

Defendant: Toshiba Corporation

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: Japan

SECURITIES INFORMATION:

Ticker Symbol: TOSYY
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.

First Identified Complaint

Mark Stoyas, et al. v. Toshiba Corporation, et al.

COURT: C.D. California
DOCKET #: 15-CV-04194
JUDGE: Hon. Dean D. Pregerson
DATE FILED: 06/04/2015
CLASS PERIOD START: 05/08/2012
CLASS PERIOD END: 05/07/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
    355 South Grand Ave, Suite 2450, The Rosen Law Firm, P.A. (New Los Angeles), CA 90071
    (213) 785-2610 (213) 226-4684 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Class Action Complaint for Violation of the Federal Securities Laws 06/04/2015
2 U.S. District Court Civil Docket 06/04/2015
3 Proceedings: Minute Order (In Chambers) 09/04/2015

Reference Complaint

Mark Stoyas, et al. v. Toshiba Corporation, et al.

COURT: C.D. California
DOCKET #: 15-CV-04194
JUDGE: Hon. Dean D. Pregerson
DATE FILED: 12/17/2015
CLASS PERIOD START: 05/08/2012
CLASS PERIOD END: 11/12/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (New SF Office)
    One Montgomery Street, Suite 1800, Robbins Geller Rudman & Dowd LLP (New SF Office), CA 94104
    (415) 288-4545 (415) 288-4534 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Amended And Consolidated Class Action Complaint For Violation Of The Securities Laws Of The United States And Japan 12/17/2015
2 Order Re: Defendant’s Motion To Dismiss And Plaintiffs’ Motion To Strike Wada Declaration 05/20/2016
3 Plaintiffs' Notice of Appeal and Ninth Circuit Rule 3-2 Representation Statement 07/25/2016
4 Opinion 07/17/2018
5 U.S. District Court Civil Docket 08/08/2018
6 Order 08/08/2018
 
 

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