TOKYO (dpa-AFX) - Japan's $1.3 trillion public pension fund has sued Toshiba Corp. (TOSYY.PK, TOSBF.PK) for nearly $10 million in damages after an accounting scandal, the Wall Street Journal reported.
The Government Pension Investment Fund is believed to be the first institutional investor in Japan to sue Toshiba over its $2.1 billion accounting scandal. About 50 individual shareholders have filed suit, the report said.
The Toshiba scandal unfolded last year as Prime Minister Shinzo Abe pushed companies to increase their transparency and accountability to shareholders in a bid to attract more foreign investment.
Copyright RTT News/dpa-AFX