(MENAFN- PR Newswire) NEW YORK, March 17, 2023 /PRNewswire/ -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Honda Motor Co., Ltd. (NYSE: hmc ).
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This lawsuit is on behalf of a class consisting of persons and entities that purchased or otherwise acquired Honda American Depository Shares between June 20, 2018 and September 28, 2022, both dates inclusive.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until April 3, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Honda Motor Co., Ltd. issued materially false and/or misleading statements and/or failed to disclose that: (i) Honda had overstated the safety and effectiveness of the Idle Stop engine feature; (ii) Honda maintained deficient disclosure controls and procedures with respect to product quality and safety; (iii) as a result of the foregoing deficiencies, Honda failed to prevent American Honda from marketing and selling thousands of vehicles that contained a defective Idle Stop feature; (iv) the foregoing conduct subjected the Company and/or its subsidiaries to a heightened risk of litigation, as well as financial and/or reputational harm; and (v) as a result, the Company's public statements were materially false and misleading at all relevant times.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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