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Australian legal powerhouse takes on Toshiba

A coalition of some of the world’s leading class-action lawyers has combined to bring more than AUD$650 million worth of claims against Toshiba Corp on behalf of institutional investors from across the globe.

Claims Funding Europe – a joint venture of Australian class action powerhouse Maurice Blackburn and global litigation funder International Litigation Funding Partners – has joined with the international law firm DRRT and the Japanese firm Koga & Partners to represent global institutional investors who suffered losses as a result of the alleged accounting issues which have plagued Toshiba in recent years.

Today Koga & Partners filed proceedings in Tokyo against Toshiba on behalf of institutional investors for losses suffered as a result of alleged Toshiba’s accounting irregularities, which were first announced by the Japanese company on 3 April 2015 and which stretch back seven years.

Together with an initial complaint filed on 22 June 2016, the claims issued against Toshiba by Koga & Partners are for and on behalf of 150 institutional investors and total more than JPY 50 billion.

Claims Funding Europe’s Executive Director Martin Hyde confirmed that “this is a landmark case we are excited to support with our manpower, expertise and financial resources.”

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