DRRT files US$500 million lawsuit against Toshiba

Press Release (ePRNews.com) - MIAMI - Apr 03, 2017 - Miami-based international law firm DRRT, (www.drrt.com), announces the filing of the second complaint against Toshiba Corporation (6502.T) by Tokyo-based boutique law firm Koga & Partners (www.kogapartnerslaw.com) on behalf of 100 institutional investors. The total group of investors represented by Koga now consists of 150 institutional investors from around the world, including Japan, with collective damage claims of over US $500 million stemming from Toshiba’s accounting fraud, first disclosed on April 3, 2015.

DRRT’s Managing Partner, Alexander Reus, stated, “We are proud to assist this group of internationally known institutional investors who are disappointed by how Toshiba has conducted its business, including the latest issues with the Westinghouse Electric investment and how little Toshiba has learned from other corporate governance failures in Japan since the Olympus fraud.”

In 2013, DRRT teamed up with Koga & Partners to successfully secure a JPY 11 billion settlement with Japanese company Olympus, the largest recovery in the aftermath of an epic US $1.2 billion accounting fraud and the highest per share recovery of any case filed (much higher than the 45% recovery publicized by other investor representatives). Koga Senior Partner Seiichi Yoshikawa, former president of the Daini Tokyo Bar Association, stated, “We are proud to have spearheaded an exceptional result in Olympus and are prepared to pursue our clients’ claims just as aggressively against Toshiba. We are a firm which specializes in creative approaches to any problem presented and puts the economic interest of its clients first.”

DRRT is co-funding the case against Toshiba with global litigation funder Claims Funding Europe whose Executive Director Martin Hyde, also a partner at Australia’s class action powerhouse Maurice Blackburn Lawyers, confirmed, “This is a landmark case we are excited to support with our manpower, expertise and financial resources.”

For more information, contact DRRT at ClientRelations@drrt.com
About DRRT:
DRRT is a pioneer in global shareholder protection and investor loss recovery around the world through active litigation, class action settlements claims filing and litigation funding.

Source : DRRT
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