The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Toyota Motor Corporation (TM)

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz reminds investors of the upcoming August 23, 2024 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Toyota Motor Corporation (“Toyota” or the “Company”) (NYSE: TM) securities between June 23, 2022 and June 2, 2024, inclusive (the “Class Period”).

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 or otherwise acquired Toyota securities during the Class Period, you may move the Court no later than August 23, 2024 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, 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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