The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Toyota Motor Corporation (TM) Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Toyota Motor Corporation (“Toyota” or the “Company”) (NYSE: TM) securities between June 23, 2022 and June 2, 2024, inclusive (the “Class Period”). Toyota investors have until August 23, 2024 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On June 3, 2024, The New York Times reported that "Toyota [. . .] and other top Japanese automakers [acknowledged] that internal investigations found they had mishandled vehicle testing on dozens of models over the past decade." Additionally, the article stated that Toyota “had failed to gather proper data when doing pedestrian and occupant safety tests for three models, including its popular Yaris Cross sport utility vehicle."

On this news, Toyota’s stock price fell $5.34, or 2.5%, to close at $212.17 per share on June 3, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Toyota understated its malfeasance relating to certification of its cars and issues relating to overall legal compliance; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased Toyota securities during the Class Period, you may move the Court no later than August 23, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Toyota securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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