Toshiba Corp. said Tuesday the total amount of damages sought by shareholders for losses incurred from the company’s falling stock price due to an accounting scandal has exceeded ¥100 billion.
The conglomerate said the amount sought against it totals ¥108.4 billion after a group of foreign investors, including Bank of New York Mellon Corp., sought roughly ¥43.8 billion in damages as a result of the 2015 accounting scandal.
The group, consisting of some 70 shareholders, filed the suit with the Tokyo District Court on April 3, the 26th of its kind brought against the company. Toshiba said it is planning to book an estimated loss from the damages in the year ended March.
Damages sought against Toshiba could increase as both domestic and foreign shareholders continue to file lawsuits against the embattled company. In March, Japanese trust banks sued the conglomerate seeking tens of billions of yen in damages.
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