NEW YORK, Oct. 22, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of Honda Motor Co., Ltd. investors. (“Honda” or the “Company”) (NYSE: HMC). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529 ext. 7980.
The investigation focuses on whether Honda and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.
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On September 28, 2022, a putative class action lawsuit was filed against Honda alleging the company sold thousands of vehicles containing a critical safety flaw that put drivers and others at risk of injury. Specifically, the lawsuit against Honda alleges that a wide range of Honda vehicles share a faulty “automatic start/stop” (also known as “idle stop”) feature intended to save fuel by shutting down the engine at stops, and that the idle stop system in these vehicles fails to restart the engine as intended, leaving drivers unable to move their vehicles. The lawsuit further alleges that Honda was fully aware of the defect before releasing the vehicles.
On this news, the price of Honda’s American Certificate of Deposit (“ADR”) fell $0.74 per ADR, or 3.23%, to close at $22.19 per ADR on September 29, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms in the areas of corporate litigation, securities and antitrust. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he established, fighting for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm recovered numerous multimillion-dollar damages on behalf of class members. See www.pomlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980