MIELY Alert: Johnson Fistel Launches Investigation into Mitsubishi Electric - Investors Suffering Losses Encouraged to Contact the Firm

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Jul 09, 2021, 20:30 ET

SAN DIEGO, July 9, 2021 /PRNewswire/ -- Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating potential claims against Mitsubishi Electric Corporation ("Mitsubishi Electric" or the "Company") (OTC: MIELY) for violations of federal securities laws.

On June 30, 2021, The Asahi Shimbun, published an article entitled "Mitsubishi Electric faked train test data likely for decades." The report stated that "Mitsubishi Electric Corp. is feeling the heat after admitting that it has faked testing data when supplying train companies with air conditioning equipment apparently for more than 30 years." The tests were intended to uncover waterproofing and voltage problems that might lead to overheating of the air conditioning equipment and even fires. Among the functions that the railway companies wanted to be checked were air conditioning capability, fuel efficiency, the level of waterproofing, and the shelf life of the equipment. Following this news, Mitsubishi Electric's shares fell 5% on July 1, 2021.

Then on July 2, 2021, it was reported that Mitsubishi Electric CEO Sugiyama quits over fake inspections, admitting that the wrongdoing went back decades. Following this news, Mitsubishi Electric's shares fell over 5% on July 8, 2021.

If you have information that could assist in this investigation, or if you are a Mitsubishi Electric shareholder and are interested in learning more about the investigation, please contact Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number.

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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP