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Toyota shareholders sue over fallen stock price

Associated Press

Posted on March 21, 2010 at 8:30 AM

Updated Sunday, Mar 21 at 12:00 PM

MIAMI (AP) — Some Toyota shareholders are upset over a sudden drop in the Japanese automaker's stock price and they are filing lawsuits claiming company executives deliberately misled investors and the public about the depth of accelerator problems.

At least three proposed class-action lawsuits filed by Toyota investors say the company gave false initial assurances that the sudden acceleration problem was a simple matter of floor mats trapping gas pedals. The investors say that artificially inflated Toyota's stock price.

The shareholder cases are part of an avalanche of potentially costly lawsuits against Toyota over the acceleration issue. Other cases include those filed by crash victims and those brought by Toyota owners contending their vehicles have lost value since vehicles were recalled.

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Comments: Displaying 1 - 1 of 1

cathykombol06311 said on March 21, 2010 at 6:18 PM

i have purchased one new car in my life -- i chose the toyota tacoma . when the breaks made unholy sounds --i took it back to the shop . no help , this break problem got me a free check up and a print out from toyota stating that this was a documented , frequent problem with the tacomas . seems like toyota could have SENT ME that info . my breaks remain unfixed even though i am under full warrenty . why ? this is , according to toyota ' not a safety issue ' ? so sorry big bucks but i feel unsafe driving my kids around as the breaks squeal ! i paid you the big bucks . you will fix my breaks when my full warrenty expires --or maybe never . sorry i trusted toyota .

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