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HMC.US
id: 574, Created by Stan Vick, Scout
Honda ADR Negligence Case
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C.D. California
Court23-CV-00794
Case numberOn September 28, 2022, a putative class action was filed against American Honda (HMC) alleging that it had sold thousands of vehicles equipped with a flawed Idle Stop feature.
Per the allegations in the class action complaint, after initially shutting off a vehicle’s engine, the Idle Stop system in the affected vehicles routinely fails to restart the engine as designed, leaving drivers unable to move their vehicles. The lawsuit further alleges that American Honda was fully aware of the defect before marketing the vehicles.
On this news, Honda’s ADS price fell 3.23%, seriously damaging shareholders.
Investors have grounds to suspect that the Company and its Leaders made false and misleading statements regarding the Company’s business, operations, and compliance policies, specifically:
- Honda had overstated the safety and effectiveness of the Idle Stop engine feature;
- Honda maintained deficient disclosure controls and procedures with respect to product quality and safety;
- Honda failed to prevent American Honda from marketing and selling thousands of vehicles that contained a defective Idle Stop feature;
- The foregoing conduct subjected the Company to a heightened risk of litigation, as well as financial and/or reputational harm.
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Failure to Disclose,
Negligence,
Breach of Fiduciary duty,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Depository Securities (ADS, ADR, GDR)
Trade Direction
Long
Shock Event Date
28 September 2022
Filing date
02 February 2023
Lead Plaintiff Deadline
03 April 2023
Judge
Hon. George H. Wu
Collecting participants…
Case history
Stan Vick
28 August 2023
$HMC Case Update:
During the final day of the trial, an attorney representing thousands of Honda purchasers informed a San Francisco federal jury that $HMC was aware that an engine "rattle" in specific vehicles pointed to a potential issue with the valve timing control device. This problem, the attorney argued, could ultimately lead to the vehicle's malfunction.
Stan Vick
30 August 2023
$HMC case-related News:
- Honda Motor Co. was ordered to pay $1.4 million to a class of Illinois drivers who alleged a flawed part causes engine rattle in some vehicles.
- But a federal jury in California cleared the $HMC on similar claims by drivers in that state.
Stan Vick
21 September 2023
The lawyers representing Illinois drivers, who recently won a sweet $1.4 million in a jury trial against $HMC for supposedly hiding a car defect, are now hitting up a California federal judge for a whopping $5.5 million in fees and expenses.