NEW YORK, June 05, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in 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 focuses on whether SoftBank and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
[Click here for information about joining the class action]
On May 12, 2022, Bloomberg published an article titled “SoftBank Son Pays Price for Tech Bets with $20 Billion Loss.” The article reported, in relevant part, that SoftBank CEO “Masayoshi Son is paying a high price for his outsized bets on money-losing tech companies,” noting that “Son’s SoftBank Group Corp. reported a loss record year at its Vision Fund unit as a sell-off in tech stocks sent the value of its portfolio companies plummeting, 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 recognized as one of the leading firms in the areas of corporate litigation, securities and antitrust. 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 the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980