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TM.US
id: 1268
Toyota Motor (TM) Certification Issues and Safety Risks Case
C.D. California
Court2:24-cv-05284
Case number06/23/2022
Class period Start06/02/2024
Class period End08/24/2024
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 Appointed
Alleged Offence
Misleading Statements,
Financial Misrepresentation,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
06/03/2024
Filing date
06/24/2024
Lead Plaintiff Deadline
08/24/2024