Kendall Law Group is investigating potential securities law violations for shareholders of Toyota Motor Corporation (NYSE: TM). The stock affected by the potential violations was purchased from August 4, 2009 to January 29, 2010.
During the above time period, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the defect on faulty floor mats. It was not until January 26 that Toyota finally revealed that it was immediately halting the sale and production of eight models because of the acceleration system defect. As a result of this announcement, Toyota’s shares plunged $7.01 to close at $79.77. When further European recalls were announced, the stock fell to $77.00 per share.
Kendall Law Group is led by a former federal judge experienced in recovering millions for defrauded shareholders. The firm includes a former United States Attorney, prosecutors, federal judicial law clerks, and securities lawyers who are experienced in complex securities litigation. If you have any information about this issue or questions concerning your Toyota stock purchased between August 4, 2009 and January 29, 2010, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Tags: investigation, Kendall Law Group, NYSE: TM, shareholder, Toyota, Toyota Motor Corporation