June 13, 2017 / 5:07 AM / 5 months ago

Toshiba faces fresh lawsuit, plans provision for year ended March

TOKYO (Reuters) - Toshiba Corp on Tuesday said it was being sued by another group of foreign investors for 43.9 billion yen ($399 million) in damages over a $1.3 billion accounting scandal uncovered two years ago.

FILE PHOTO: The logo of Toshiba is seen as a shareholder arrives at Toshiba's extraordinary shareholders meeting in Chiba, Japan March 30, 2017. REUTERS/Toru Hanai/File Photo

Toshiba said in a statement that it plans to book an additional provision for the year ended March for the lawsuit.

The laptops-to-nuclear conglomerate has now been sued by 26 groups and individuals since it first admitted to reporting inflated profits going back to 2008, with total damages of 108.4 billion yen being sought.

Reporting by Makiko Yamazaki; Editing by Himani Sarkar

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