NEW YORK, June 05, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of SoftBank Group Corp. (“”or the “Company”) (OTCMKTS: SFTBY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether SoftBank and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On May 12, 2022, Bloomberg published an article entitled “SoftBank’s Son Pays Price for Tech Bets With $20 Billion Loss.” The article reported, in relevant part, that SoftBank’s Chief Executive Officer “Masayoshi Son is paying a steep price for his outsized wagers on money-losing technology companies,” noting that “Son’s SoftBank Group Corp. reported a record annual loss at its Vision Fund unit as a selloff in tech shares pummeled the value of its portfolio companies, including public holdings like Coupang Inc., Uber Technologies Inc. and Didi Global Inc.”
On this news, SoftBank’s stock price fell $1.03 per share, or 5.7%, to close at $17.05 per share on May 12, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
