– Toshiba Falls By Limit 20%, CDS Soar By Most On Record As Full Extent Of Damage Revealed:
One day after Toshiba’s new CEO, Satoshi Tsunakawa, pulled a page from the book of his ill-fated predecessor Hisao Tanaka who presided over the biggest accounting fraud scandal in the company’s history, and bowed down during a press conference to apologize to investors, the company’s stock crashed by the limit 20%, bringing its two day loss to 32% and wiping out $5 billion in market cap in two days.
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Tags: Collapse, Economy, Global News, Japan, Stock Market, Toshiba
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