Toshiba may face renewed shareholder accounting claims: U.S. appeals court

In a 3-0 decision, the 9th U.S. Circuit Court of Appeals on Tuesday said a lower court judge misapplied the law in dismissing the investors’ lawsuit, and that the investors should be permitted to file an amended complaint.

The Pasadena, California-based appeals court said the investors did not sufficiently allege Toshiba committed a “domestic” violation of federal securities law, but that it would “not be futile” for them to try again.