Faruqi & Faruqi LLP Reminds Shareholders of a Lead Plaintiff Deadline on August 23, 2024 in Toyota Lawsuit
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses In Toyota To Contact Him Directly To Discuss Their Options
If you purchased or acquired securities in Toyota between June 25, 2022 and June 2, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/TM.
NEW YORK, July 19, 2024 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Toyota Motor Corporation ("Toyota" or the "Company") (NYSE: TM) and reminds investors of the August 23, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, this Complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts, about the Company's business and operations. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Toyota understated its malfeasance relating to certification of its cars and issues relating to overall legal compliance; and (2) as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
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, in pertinent part, 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." 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 Shares ("ADSs") fell $5.34 per ADS, or 2.45%, to close at $212.17 per ADS on June 3, 2024.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Toyota's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Toyota class action, go to www.faruqilaw.com/TM or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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SOURCE Faruqi & Faruqi, LLP
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