Cision PR Newswire

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Toyota Motor Corporation - TM

NEW YORK, Nov. 20, 2023 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Toyota Motor Corporation ("Toyota" or the "Company") (NYSE: TM).   Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980. 

The investigation concerns whether Toyota and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.  

[Click here for information about joining the class action] 

On November 20, 2023, the Consumer Financial Protection Bureau ("CFPB) issued a press release announcing that it had "ordered Toyota Motor Credit Corporation to pay $60 million in consumer redress and penalties for operating an illegal scheme to prevent borrowers from cancelling product bundles that increased their monthly car loan payments.  The company withheld refunds or refunded incorrect amounts on the bundled products and knowingly tarnished consumers' credit reports with false information.  The CFPB is ordering Toyota Motor Credit to stop its unlawful practices, pay $48 million to harmed consumers, and pay a $12 million penalty into the CFPB's victims relief fund." 

On this news, Toyota's stock price fell sharply during intraday trading on November 20, 2023.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com

Attorney advertising.  Prior results do not guarantee similar outcomes.  

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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SOURCE Pomerantz LLP

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