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Toshiba faces fresh lawsuit, plans provision for year ended March
June 13, 2017 / 5:16 AM / 3 months ago

Toshiba faces fresh lawsuit, plans provision for year ended March

FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo

TOKYO (Reuters) - Toshiba Corp on Tuesday said it was being sued by another group of foreign investors for 43.9 billion yen (315.2 million pounds) in damages over a $1.3 billion accounting scandal uncovered two years ago.

Toshiba said in a statement that it plans to book an additional provision for the year ended March for the lawsuit.

The laptops-to-nuclear conglomerate has now been sued by 26 groups and individuals since it first admitted to reporting inflated profits going back to 2008, with total damages of 108.4 billion yen being sought.

Reporting by Makiko Yamazaki; Editing by Himani Sarkar

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