Or has it made him a genius? I thought it was a play on words when I read it!

You're giving him way too much credit.

This should be interesting


http://news.yahoo.com/s/ap/us_toyota_investor_ire

Waait, This is over 10.66 cents in stock prices? Am I reading this right?

$10.66. For someone with thousands of shares, that is a decent chunk of money.

I'm well aware of that. But they are UP from the time the recall started. Plus if this lawsuit was to succeed, where would we stop? What if stock dips by 5 dollars? Do I sue? 4 bucks? 2.50? Any dip in stock is a loss to someone. How do we determine that the loss has been sufficient enough that one can sue a company?

And as I already said their stock is UP by $1.34 overall since the recalls began, so are we suiting for what "could have been?".

With that said, anyone can file a lawsuit so any reason. My guess this will be tossed out.. But only time will tell.

Not so much they lost money...

The part that worries me is:

"Dude" bought 40 shares, and he is complaining about "real economic hard". Smells funky.

You make a valid point there ... all I can say is what a mess! Where would you draw the line?

Be it 1 share, or 4000 shares, they mislead shareholders, which is agaisnt FTC's laws.

And people already tried to sue ford, and failed. And why aren't you suing GM?

You are and idiot.

Can't sue GM for going into Chap 11. I sold it before it went to crap. Can't say the same for my brother. Bondholders put together a law suit but they had to get in line.

But you still took a loss, if I remember correctly. Did you intend on taking a loss when you were buying stock? Or were you hoping, based on some info, that GM stock would go up in price and you would be able to sell somewhere down the road for more? Was the info you were basing your information on misleading? Of course it was, the stock tanked. So I think you should file a suit too... and claim economic harm.

Ahh...no, going to the government, and asking for money to help them survive was not a "HEY, WE ARE DOING OK!! DONT WORRY ABOUT THIS!" move.
Toyota, on the other hand, downplayed and just shrugged it off as it was just a simple little mistake like a stupid floor mat.
Stocks go up and down. But if you manipulate the news to stimulate stock pricing, then thats illegal.
Anyone that was still hoping for GM to pull it out was crazy. But people expected Ford to take a crap as well. Some people held on, like my brother did, and now he has easily covered his loss at GM.
Yet...some how you drag GM into this.
Toyota lied and cheated the American people, but I guess its ok since its just a few bucks for a few people.

I think the legal question is did Toyota withhold material information and thus mislead shareholders. This is hard to prove. That is what NY’s Cuomo and company are trying to pin on BoA related to the Merrill purchase. They argue the bank failed to tell investors about Merrill bonuses and much higher then expected losses just prior to the shareholder vote to approve the buyout. BoA is arguing that is was not material (and they were pushed by the government). I think an agreement to some of the suits was recently reached. Here the argument will be Toyota hid the fact they knew they had billions in potential liabilities and reputational damage and said nothing. I’m not sure how that will go, probably a settlement of some sort. Which is why they file.

I do not think old GM did that. The numbers in their annual reports are what they are, with never ending negative cash flows. Anyone who looked at the numbers knew that. Every analyst report I looked at talked about it. There was no underlying issue that was never publically documented. They outlined their turnaround plan and an investor could choose to believe it or not. But that plan did not forecast a historic drop in auto sales, the proverbial last nail in the coffin. But the info is there, I know of no intention misleading of investors. Poor management itself is not a crime, nor is a drop in share value. Shareholders do elect BOD members who pick management. So they can sue themselves.

Now stop picking on Al.

I saw on the news this morning that the shareholders are suing because they do have proof. They claim Toyota provided them with false information and claimed that all of the acceleration problems were due solely to user error and it was because people were jamming the floor mat against the gas pedal. They told the shareholders that all of this would go away and to keep buying stocks and the stock prices were going to go up. They also said on the news that Toyota provided them with doctored reports and false information.

Show me proof where it says they maliciously did what they did, and it was not a simple mistake? You can't. End of story. To this day no one has been able to re create what this fuss is all about.


Sure, if one can prove that there was some sort of manipulation.

It was an example, you can replace GM with any company if you like. Now dig out your panties out of your vag.

Ford was sued for a similar thing, whoever was suing failed. Company is not obligated to release any kind of info unless they are absolutely sure of it, so this gives no reason to Toyota to murder their own stock prices as they figure out what's going on.



GM has mislead plenty of people, from re-badging Chevy's as a Caddy, to side saddle gas tanks. I don't want to give Al a heart attack though.

It's fun to do :lol:

If they have proof, great!

Just now I saw some commissioner dude on TV who was talking about the latest prius crash where the woman claimed that her car got away from her because the gas pedal got jammed and she was not able to stop; even though she was mashing the brake as hard as she could. It was said that she's a big liar and never stepped on the brakes, the accident was determined to be a user error.

I'm still waiting for someone to re create this Toyota run away problem without crafty video editing.

Ok I'm spent.. :mrgreen:

You are such a ****, really.

Why recreate it when more people can die? Or more documents can come out showing that Toyota have, and for some time, tried to cover up thier problems.

That's what that lawyer claims to have. Documents showing that Toyota covered up the problems, as well as withheld information in the lawsuits, and doctored the crash tests.

If that was the case they would probably get "leaked" by now.

P.S. Al needs a hug.

There was something about how he isn't allowed to release them.

Top secret info gets "leaked" somehow. :lol:

Not if the lawyer is holding on to it hoping for a big payoff to keep it secret.

Or if he's the only one who has it. If it "leaks" they know who did it.

Come on, there are so many ways around that...

Edit* plus what are the odds that he is the ONLY person that has documents that can "put the final nail in a Toyota coffin"? I'm gonna go with slim.