NEW YORK, Aug. 17, 2024 /PRNewswire/ -- Pomerantz LLP announces that a class action lawsuit has been filed against Toyota Motor Corporation ("Toyota" or the "Company") (NYSE: TM). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Toyota and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until August 23, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Toyota securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On June 3, 2024, Toyota filed with the U.S. Securities and Exchange Commission an English translation of an announcement that Toyota filed with the Tokyo Stock Exchange earlier that day. Toyota's announcement said that after "investigat[ing] its model certification applications as per instructions from the Ministry of Land, Infrastructure, Transport and Tourism (MLIT)", Toyota discovered that "seven models . . . were tested using methods that differed from the government standards[.]" That same day, The New York Times published an article entitled "Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests." The article reported that "Toyota [. . .] and other top Japanese automakers [acknowledged] that internal investigations found they had mishandled vehicle testing on dozens of models over the past decade." Further, "Toyota said it had failed to gather proper data when doing pedestrian and occupant safety tests for three models, including its popular Yaris Cross sport utility vehicle."
On this news, Toyota's American depositary share ("ADS") price fell $5.34 per ADS, or 2.45%, to close at $212.17 per ADS on June 3, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
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SOURCE Pomerantz LLP
