- June 13, 2021
- Posted by: Stratford Team
- Category: Business
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Toshiba Corp’s second-biggest shareholder on Sunday demanded the board chairman and three other directors resign immediately after an investigation found the company had colluded with the Japanese government to pressure foreign investors.
The letter, sent to the four on Sunday according to a person with direct knowledge of the process and seen by Reuters, is from 3D Investment Partners, which owns a 7.2% stake in Toshiba.
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It is likely to the deepen a crisis sparked by last week’s report, which marked an explosive turn in a long battle between the Japanese company’s management and foreign shareholders. These include activist investors and Harvard University’s endowment fund.
Ticker Security Last Change Change %TOSYY TOSHIBA 21.215 -0.07 -0.35%
The revelations in the shareholder-commissioned report “are deeply troubling and represent one of the most prominent…
