Japanese industrial conglomerate Toshiba is investigated by the SEC for hiding 1.3 Bbillion dollars in losses. This deepens a scandal that has pushed the company into an existential crises.
Japanese technology giant Toshiba has filed a lawsuit against US firm Western Digital for obstructing the sale of its computer memory-chip unit. Toshiba executives, meanwhile, faced legions of angry shareholders.
The board of the Japanese conglomerate has approved a Chapter 11 filing for its US nuclear unit Westinghouse Electric, seeking to limit billons of dollars in losses that have plunged Toshiba into crisis.
Shares in Japanese company Toshiba have plummeted on media reports it's likely to suffer a huge special loss related to an asset valuation dispute. The news came amid a large-scale corporate restructuring effort.
The conglomerate's stock has plunged for a third straight session, losing 25 percent of its value at one point, following its warning of a possible one-time loss of several billion dollars over its US nuclear business.
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