Kendall Law Group, led by a former federal judge, updates shareholders of its investigation for potential securities law violations of Toyota Motor Corporation (NYSE: TM). As a result of the recent recall announcements, Toyota stock plummeted 14 percent, wiping out $21 billion in market value in just one week.

From July 23, 2009 to January 29, 2010, Toyota failed to disclose that there was a major design defect in its acceleration system. Instead, the company blamed the problem 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.

Former federal Judge Joe Kendall stated “While Toyota has found a solution to repair the recalled vehicles, we are still concerned about the damage to the reputation of Toyota that continues to affect stock prices.” Today, the executive in charge of quality control, Shinichi Sasaki, told reporters in Japan that Toyota expects slow sales in January as a result of the recall and that the scale of the recall “was a cause for worry.” He also stated that Toyota’s main concern was regaining the trust of their customers.

If you have any information about this issue or questions concerning your Toyota stock, you may contact attorney Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com. 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, state judge, prosecutors, and securities lawyers who are experienced in complex securities litigation.