Toyota Motor Corporation - Securities Class Action

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Stanford Law School

Toyota Motor Corporation Summary: According to a press release dated February 08, 2010, the complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s operations and its business and financial results and outlook. Defendants misled investors by failing to disclose that there was a major design defect in Toyota’s acceleration system, which could cause unintended acceleration. As a result of defendants’ false statements, Toyota’s securities traded at artificially inflated prices during the Class Period, reaching a high of $91.78 per ADS on January 19, 2010.

On January 21, 2010, Toyota announced it would be recalling 2.3 million Toyota brand vehicles in North America because of problems with the accelerator pedal sticking. On February 2, 2010, after the market closed, Toyota reported that its U.S. sales for January 2010 had dropped by 16% from a year ago due to the recall and subsequent sales suspension of its most popular models. Then, on February 3, 2010, before the market opened, Toyota announced that it had received reports of brake problems in its 2010 model year Prius hybrid. As a result of this news, Toyota’s ADSs fell $4.69 per share, closing at $73.49 per share on February 3, 2010, on high volume. Toyota’s common stock also dropped approximately 6%.

On August 02, 2010, Maryland State Retirement and Pension System was appointed Lead Plaintiff and Bernstein Litowitz Berger & Grossman LLP was appointed Lead Plaintiff’s Counsel for the putative Class.

On October 04, 2010, the lead plaintiffs filed a Consolidated Class Action Complaint against the Defendants.

INDUSTRY CLASSIFICATION:
SIC Code: 3711
Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers

COMPANY/ISSUER NAME:	Toyota Motor Corporation
COMPANY/ISSUER TICKER:	TM
COMPANY WEBSITE:	http://www.toyota.co.jp

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Harry Stackhouse, et al. v. Toyota Motor Corporation, et al.

COURT: C.D. California	DOCKET NUMBER: 10-CV-00922
JUDGE NAME: Hon. Dale S Fischer
DATE FILED: 02/08/2010	SOURCE:
CLASS PERIOD START: 08/04/2009	CLASS PERIOD END: 02/02/2010
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Coughlin Stoia Geller Rudman & Robbins LLP (San Diego) 655 West Broadway, Suite 1900, San Diego, CA, 92101 (voice) 619.231.1058, (fax) 619.231.7423, info@csgrr.com/ Law Offices of Bernard M. Gross (Philadelphia) John Wanamaker Building; 100 Penn Square East, Suite 450, Philadelphia, PA, 19107 (voice) 215.561.3600, (fax) 215.561.3600, susang@bernardmgross.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 02/08/2010
Order Appointing Lead Plaintiff, Approving Lead and Liaison Counsel, and Establishing Other Requirements For The Prosecution Of This Action
Type: Order		Date on the document: 08/02/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/02/2010

REFERENCE COMPLAINT

In Re Toyota Motor Corporation Securities Litigation

COURT: C.D. California	DOCKET NUMBER: 10-CV-00922
JUDGE NAME:
DATE FILED: 10/04/2010	SOURCE:
CLASS PERIOD START: 05/10/2005	CLASS PERIOD END: 02/02/2010
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bernstein Litowitz Berger & Grossmann LLP (San Diego) 12481 High Bluff Drive, Suite 300, San Diego, CA, 92130 (voice) 858.793.0070, (fax) 858.793.0323, blbg@blbglaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 10/04/2010
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/10/2011
U.S. District Court Civil Docket
Type: Other		Date on the document: 11/16/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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