PHILADELPHIA, Feb. 9, 2010 (GLOBE NEWSWIRE) -- Law Offices Bernard M. Gross, P.C. commenced a class action lawsuit in the United States District Court, Central District of California, Western Division, 10cv00922, on behalf of all persons who acquired the publicly traded securities of Toyota Motor Corporation ("Toyota" or the "Company"), including the American Depositary Shares ("ADSs") of Toyota, between August 4, 2009 and February 2, 2010, inclusive (the "Class Period"), against Toyota and certain of its officers and/or directors for violations of the 1934 Act. These claims are asserted against Toyota and certain of its officers and/or directors who made materially false and misleading statements during the Class Period in press releases, analyst conference calls, and filings with the SEC. The action is pending before the Honorable Dale S. Fischer. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from February 8, 2010. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of its choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at 866-561-3600 or 215-561-3600 or via email at debbie@bernardmgross.com or susang@bernardmgross.com. A copy of the complaint can be viewed on the Law Offices Bernard M. Gross, P.C. website at www.bernardmgross.com.
Toyota is one of the world's largest manufacturers of automobiles. The Complaint alleges that defendants misrepresented and failed to timely disclose during the Class Period material facts concerning a serious safety defect in many of their vehicles involving the sudden, unintended acceleration of the vehicle and a serious safety defect involving the braking system in the Toyota Prius. Belatedly, at the close of the Class Period, Defendants made disclosures concerning these safety defects and the necessity for increased vehicle recalls. Toyota's ADSs, as well as its common stock, suffered substantial declines upon these announcements, on extremely heavy trading volumes.
Plaintiff seeks to recover damages on behalf of all persons who acquired the publicly traded securities of Toyota, including ADSs of Toyota, between August 4, 2009 and February 2, 2010, inclusive. The plaintiff is represented by Law Offices Bernard M. Gross P.C. The firm has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
If you wish to discuss this action or have any questions concerning this Notice or rights or interests with respect to these matters,
PLEASE CONTACT: Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esquire
Deborah R. Gross, Esquire
866-561-3600
215-561-3600
susang@bernardmgross.com
debbie@bernardmgross.com
http://www.bernardmgross.com