Toyota(US:TM) Prnewswireยท2024-06-25 19:09Core Points - A class action lawsuit has been filed against Toyota Motor Corporation for alleged securities fraud and unlawful business practices [1] - Toyota disclosed that it mishandled vehicle testing for several models, including failing to gather proper data for safety tests on three models [2] - Following the announcement of the mishandled tests, Toyota's American depositary share price dropped by $5.34, or 2.45%, closing at $212.17 [2] Group 1 - The class action lawsuit is based on claims that Toyota and certain officers/directors engaged in securities fraud [1] - Shareholders who purchased Toyota securities during the Class Period can request to be appointed as Lead Plaintiff by August 23, 2024 [1] - Toyota's announcement regarding the mishandled safety tests was made after an investigation prompted by the Ministry of Land, Infrastructure, Transport and Tourism [2] Group 2 - The New York Times reported that Toyota and other Japanese automakers acknowledged mishandling vehicle testing over the past decade [2] - The specific models mentioned include the popular Yaris Cross sport utility vehicle, which was part of the safety test failures [2] - Pomerantz LLP, the firm handling the class action, has a long history in corporate and securities class litigation, recovering billions for class members [3]