For Troubled Toshiba, Auditor Decision Is Key
- Deadline looms Thursday for submission of securities report
- Short interest tumbles as investors bet auditor will sign off
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For Toshiba Corp. investors -- a list that includes David Einhorn’s Greenlight Capital, Effissimo Capital Management and King Street Capital Management -- all eyes are on the struggling conglomerate’s auditor.
When Toshiba files its annual securities report on Thursday, PricewaterhouseCoopers Aarata’s endorsement may help save the company from delisting. The filing is the latest milestone event for the Japanese company, which has been on a watchlist for possible expulsion from the Tokyo Stock Exchange since September 2015 after it overstated profit to cover up multi-billion dollar losses in its nuclear business.