Toshiba shares fall after report trust banks preparing to sue

TOKYO Jan 30 Shares of Toshiba Corp
tumbled as much as 5.8 percent in early trade on Monday after a
newspaper report that some trust banks are preparing to sue the
company for damages.

The Asahi Shimbun reported that several trust banks
including Mitsubishi UFJ Trust and Banking Corp are
set to sue Toshiba after its share price tanked due to a massive
accounting scandal that has upended the company.

On Friday, Toshiba said it would sell a minority stake in
its memory chip business as it urgently seeks funds to offset an
imminent multi-billion dollar writedown on its U.S. nuclear
business. It said the overseas nuclear division was now under

The Nikkei business daily separetly reported over the
weekend that Chairman Shigenori Shiga was ready to step down to
take responsibility.

(Reporting by Ayai…

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