NEW YORK, Feb. 14, 2017 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Toshiba Corporation ("Toshiba" or the "Company") (OTCMKT: TOSYY). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Toshiba and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On February 14, 2017, Toshiba reported a projected $6.3 billion loss by the Company's nuclear power unit and announced its intent to sell all or part of its controlling stake in Westinghouse Electric Company. Concurrently, Toshiba announced the resignation of the Company's chairman, Shigenori Shiga.
On this news, Toshiba shares have fallen as much as $0.47, or 3.84%, to a low of $11.78 during intraday trading on February 14, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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
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SOURCE Pomerantz LLP