NEW YORK, March 30, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of SoftBank Group Corporation ("SoftBank" or the "Company") (OTCMKTS: SFTBY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether SoftBank and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On March 24, 2021, the short seller research site PlainSite posted a letter from the U.S. Securities and Exchange Commission ("SEC") on Twitter, in response to a December 2020 Freedom of Information Act ("FOIA") request, which revealed that SoftBank was the subject of an ongoing SEC investigation. The initial FOIA request sought information related to SoftBank's trading of the securities of companies controlled by SoftBank Chief Executive Officer Masayoshi Son.
On this news, SoftBank's stock price fell $2.30 per share, or 5.12%, to close at $42.65 per share on March 24, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
SOURCE Pomerantz LLP