US: Toyota settles out of court with shareholders
Toyota has agreed to pay US$25.5m to settle out of court a class action lawsuit in the US brought by shareholders over its large-scale recalls in the country.
The shareholders have claimed that the carmaker's failure to disclose information on the recalls appropriately had caused a sell-off of its shares. Toyota has not acknowledged any negligence but decided to settle the suit in light of costs for continuing the legal battle, the company said.
Payments will be made to individual and institutional investors who bought Toyota's American depository receipts between May 2005 and early February 2010.
Other class actions have been filed in connection with the automaker's recalls over fatal and injury accidents caused by unintended acceleration and over economic damage from a decline in the value of Toyota vehicles due to the recalls.
New vehicle sales in Vietnam jumped by 34% to 8,001 units in April, from a depressed 5,972 units in the same month of last year, according to data released by the Vietnam Automotive Manufacturers Asso...
US-based electric car maker Tesla Motors has posted its first ever quarterly profit in the first quarter as it also said it exceeded its target for deliveries....
Toyota Boshoku has concluded an agreement to establish a joint venture in Pakistan with Pakistani automotive component maker, Thal, and Toyota Tsusho....
Toyota Motor Corporation boosted full fiscal year operating income from JPY355.6bn to JPY1.32 trillion, an increase of JPY965.2bn. Net income rose from JPY283.5bn to JPY962.1bn on sales up 18.7% to J...
- What does 'Brexit' mean for the auto sector?
- The self-driving Volvo is getting closer
- And so Brexit begins - The Week That Was
- Arxan Technologies on cyber security - Q&A
- Active suspension systems - briefing
- "No trade barriers" says FKG amid Brexit fallout
- Volkswagen scandal - Porsche plunges into the red
- Aston Martin lost GBP127.9m in 2015
- VDA warns against post-Brexit customs barriers
- Shocked CLEPA to discuss Brexit in Madrid
- Jaguar Land Rover: Adapting the original SUV & turning middle class Britishness into a business asset
- Tesla Motors, Inc. - Strategy and SWOT Report
- Automotive Megatrends
- Global light vehicle instrumentation and cockpits market - forecasts to 2030
- Global light vehicle turbochargers market - forecasts to 2030