ROSEN, GLOBAL INVESTOR COUNSEL, Continues Investigation of Securities Claims Against Marubeni Corporation – MARUY
MARUBENI CORP UNSP/ADR (MARUY)
NASDAQ:AMEX Investor Relations:
marubeni.com/ir
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, continues investigating potential securities claims on behalf of shareholders of Marubeni Corporation (OTC: MARUY) resulting from allegations that Marubeni may have issued materially misleading business information to the investing public.In November 2019, Marubeni reported a loss of 3.9 billion yen ($35.85 million) related to inappropriate recognition of loss from its U.S. agribusiness Gavilon's trade in Italy and Spain in the last business year. Then, on March 16, 2020, Reuters published an article entitled "Exclusive: Flying blind – Marubeni's Gavilon ignored Brazilian red flags." The Reuters article reported, among other issues, that "Brazilian risk controllers at Gavilon do Brasil raised red flags as early as June 2016 about lax accounting that ultimately let the company book inaccurate estimates for freight costs, boosting its profits and masking losses"; "an Ernst & Young audit flagged to Gavilon
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