Lawyers for Toyota shareholders who suffered losses tied to massive recalls and claims of sudden acceleration of its vehicles have filed a consolidated complaint invoking Japanese securities laws against the company and several of its officers and directors. The complaint, filed Tuesday in Los Angeles federal court, alleges Toyota issued false and misleading statements in conference calls with investors, filings with the SEC and interviews with the press -- all of which caused its shares to be artificially inflated.
Toyota Shareholders Invoke Japanese Securities Law in Consolidated Complaint
The National Law Journal
October 6, 2010