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Mealeys

Mealey's Securities/D&O Liability - Amendments Sufficient As Judge Denies Dismissal Bid In Toshiba Securities Suit

LOS ANGELES - Shareholders in a securities class action lawsuit against Toshiba Corp. have sufficiently alleged a domestic transaction under the irrevocable liability test in arguing that the lead plaintiff in the action purchased Toshiba American Depositary Receipts (ADRs) on the over-the-counter (OTC) market in the United States, a federal judge in California ruled Jan. 28 in denying Toshiba's motion to dismiss (Mark Stoyas, et al. v. Toshiba Corp., No. 15-4194, C.D. Calif., 2020 U.S. Dist. LEXIS 14295).
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