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TM.US
id: 1268

Toyota Motor (TM) Certification Issues and Safety Risks Case

C.D. California
Court
2:24-cv-05284
Case number
23 Jun 2022
Class period Start
02 Jun 2024
Class period End
24 Aug 2024
Lead Plaintiff motion deadline
  • $TM stockholder filed a claim vs. Toyota Motor for hiding certification issues and safety risks of their vehicles.
  • On June 3, 2024, after the disclosure of the certification problems, $TM dropped by over 2.4%.
  • Toyota investors can join this case to be notified about potential recovery.
Case Details:

On June 3, 2024, Toyota revealed that they used incorrect data in safety tests for several models, including the Yaris Cross.

This included inaccurate results in pedestrian and passenger safety tests and errors in crash tests.

This has raised concerns about the reliability of Toyota's safety testing and the safety of the affected vehicles.

It also prompted investigations into similar issues at Toyota's subsidiaries, Hino Motors and Daihatsu.

On June 3, 2024, after the announcement and the suspension of shipments for affected models, $TM fell over 2.45%.

Based on these events, a $TM stockholder filed a claim against Toyota and its leaders, accusing them of the following:
  • Toyota understated the risks associated with its vehicle certification processes and overall legal compliance.
  • The company failed to maintain the promised safety and quality standards.
Considering all the representations, investors suspect Toyota hid certification issues and safety risks of their vehicles.
Case Status
Lead Plaintiff Submission
Alleged Offence
Misleading Statements
Financial Misrepresentation
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03 June 2024
Filing date
24 June 2024
Lead Plaintiff Deadline
24 August 2024
Collecting participants…

Toyota Motor Corporation ADR

Toyota Motor Corporation designs, manufactures, assembles, and sells passenger vehicles, minivans and commercial vehicles, and related parts and accessories in Japan, North America, Europe, Asia, C...

    Ticker
    TM.US
    ISIN
    US8923313071
    Sector
    Consumer Cyclical
    Industry
    Auto Manufacturers
    Country
    USA
    Address
    1 Toyota-cho, Toyota, Japan, 471-8571