Toshiba Investors Tell 9th Circ. Morrison Backs Fraud Suit

Law360, San Jose (November 9, 2017, 10:58 PM EST) -- Investors alleging Toshiba Corp. fraudulently inflated earnings reports urged the Ninth Circuit to revive their proposed class action Thursday, arguing at a hearing that the U.S. Supreme Court’s Morrison decision holds that the Securities Exchange Act applies to their Japanese stock because it was purchased in the U.S.

An attorney for the investors plaintiffs, Susan Alexander of Robbins Geller Rudman & Dowd LLP, told the federal appellate panel during oral arguments in Pasadena that the lower court improperly dismissed exchange act claims for investors who held...
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Case Information

Case Title

Auto Ind. Pension Trust Fund, et al v. Toshiba Corp.


Case Number

16-56058

Court

Appellate - 9th Circuit

Nature of Suit

3850 Securities, Commodities, Exchange

Date Filed

July 25, 2016

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