Judge Trims Claims In Investor Suit Over Toyota Recalls

Law360, New York (July 7, 2011, 10:37 PM EDT) -- A federal judge in California on Thursday trimmed a putative class action accusing Toyota Motor Corp. of inflating its stock price by concealing a brake defect, ruling that the plaintiffs did not sufficiently show Toyota was knowingly violating laws or regulations.

U.S. District Judge Dale S. Fischer partly granted Toyota's motion to dismiss the case, tossing claims related to all but seven of the 33 company statements referenced in the complaint. The plaintiffs had failed to demonstrate scienter with regard to several of the statements and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.