Bernstein Litowitz Berger & Grossman was named lead counsel on Monday in the shareholder class action against Toyota Motor Corp. over sudden unintended acceleration.
U.S. District Judge Dale Fischer in Los Angeles consolidated seven class actions against Toyota in June but held off a decision about lead counsel pending the U.S. Supreme Court’s ruling in Morrison v. National Australia Bank. The high court ruled on June 24 that investors who purchase a foreign company’s stock on a foreign exchange lack standing to sue in U.S. courts.
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