Angry shareholders are the latest group to sue Toyota Motor Corp. in the wake of its recall of 8.5 million vehicles worldwide over sudden acceleration concerns. The suits could cost Toyota billions of dollars and are likely to drag on for years, experts say.
At least three class-action lawsuits alleging securities violations have been filed against the Japanese automaker in recent weeks. One suit, filed by the law firm Murray, Frank & Sailer in U.S. District Court in California -- is on behalf of shareholders who purchased stock between Dec. 22, 2009 and Feb. 2, 2010.
Read Article