Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 11, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Toyota Motor Corp (“Toyota” or the “Company”) (NYSE: TM) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Toyota investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On June 3, 2024, The New York Times published an article entitled “Toyota and Other Japanese Carmakers Say They Mishandled Safety Tests.” This article stated that “Toyota and other top Japanese automakers said on Monday that internal investigations found they had mishandled vehicle testing on dozens of models over the past decade.” Furthermore, “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 Shares fell $5.34 per ADS, or 2.45%, to close at $212.17 per ADS on June 3, 2024.
The investigation focuses on whether the company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Toyota is also the subject of a CNBC article published on June 9, 2024. According to the article, "Shares of Japanese automakers have largely plunged since the country's Transport Ministry found false data used to certify certain models a week ago on Monday." The article continues, "The stock of Japan's largest carmaker, Toyota, fell more than 5.4% last week, after the scandal broke on June 3, but is recovering on Monday. The automaker lost 2.45 trillion Japanese yen ($15.62 billion) in market value last week alone."
This series of events has raised significant concerns among investors and stakeholders about the transparency and reliability of Toyota’s safety testing procedures. The company now faces increased scrutiny as regulatory bodies and investors seek to understand the full extent of the mishandling and its implications for the future.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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