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Judge rejects most claims in Toyota investor suit

Judge rejects most claims in Toyota investor suit

A federal judge in Los Angeles has rejected most claims made in a shareholder lawsuit against Toyota Motor Corp. that accused the automaker of knowing about and hiding purported acceleration problems in some of its vehicles.
U.S. District Judge Dale Fisher said in her July 7 ruling that Japanese law takes precedence, especially since many of those who sued Toyota bought company stock on foreign exchanges.
The lawsuit notes Toyota's stock dropped about 20 percent in January and February 2010 when the company began recalling some of its models.
An email left with a Toyota spokeswoman was not immediately returned Tuesday.
Hundreds of lawsuits have been filed against Toyota, claiming economic loss and wrongful death due to sudden acceleration. Those suits are before a federal judge in Orange County.


Updated : 2021-03-04 15:25 GMT+08:00