NEW YORK, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating violations of federal securities laws on behalf of investors of Toyota Motor Corporation (“Toyota” or the “Company”) (NYSE: TM).
The investigation concerns whether Toyota and certain of its officers and directors have engaged in violation of the securities laws and/or other business practices.
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 victim’s relief fund.”
On this news, the price of Toyota’s shares fell precipitously.
If you suffered losses greater than $100,000 in Toyota and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Alesandra Greco (agreco@lowey.com).
Whistleblowers: Persons with non-public information regarding Intuit should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: agreco@lowey.com
afarah@lowey.com
