BLB&G and Client Maryland State Retirement and Pension System Appointed to Lead Toyota Shareholder Litigation
August 2, 2010
On August 2, 2010, the Honorable Dale S. Fischer of the U.S. District Court of the Central District of California appointed BLB&G client, the Maryland State Retirement and Pension System, as Lead Plaintiff, and BLB&G as Lead Counsel, in the shareholder class action against Toyota Motor Corporation ("Toyota" or "Company").
The action alleges that Toyota Motor Corporation ("Toyota" or the "Company") and the Company's senior executives misled investors by concealing serious safety issues with Toyota vehicles. Toyota, founded in 1933 and headquartered in Japan, is one of the largest automobile manufacturers in the world, with many of the top-selling models in the United States. As alleged in the action, the Company hid serious safety issues from regulators and the public, repeatedly downplaying their significance. Toyota subsequently halted the sale of certain models and recalled millions of vehicles sold in the United States and abroad.
In response to a series of corrective disclosures about the safety issues, and further revelations concerning congressional and federal inquiries into Toyota's safety issues and additional problems with other models, the Company's securities plummeted, erasing billions in shareholder value.
Also of Interest
BLB&G Allianz Structured Alpha Funds Team Announces New Case Filing
October 16, 2020
Press Coverage: Williams Companies Stockholder Litigation Trial Challenging Novel Anti-Shareholder Corporate Governance Provision
January 13, 2021
BLB&G Announces Elevation of Four Partners and One Senior Counsel
January 26, 2021
BLB&G Announces Elevation of Two Partners and Four Senior Counsel
January 24, 2020
BLB&G Partner Mark Lebovitch Quoted in Fortune magazine on Business Roundtable’s Repudiation of Shareholder Primacy
ISS SCAS Releases Top Securities Settlements Report: Bernstein Litowitz Leads the Field for Ninth Consecutive Year
February 11, 2019
Chambers Again Ranks BLB&G Nation’s Top Securities Litigation Firm
April 25, 2019
Hans Ek Joins BLB&G's European Team in Stockholm
October 1, 2020
Lawdragon Names BLB&G Attorneys to 2021 500 Leading Lawyers in America List
February 1, 2021
Lawdragon Names 20 BLB&G Attorneys Among its “500 Leading Plaintiff Financial Lawyers” list