Shareholders Sue over Sudden Acceleration of Stock Price Decline

wz2p7j

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

Toxis

It's America in a downturn. I'm going to sue you for talking about people being sued. please PM me your information so my lawyer can be in contact. Thanks.

coolsax

This is also why you don't put all your eggs in one basket so to say

dkg999

This is an interesting one to watch! In some ways it would be nice to have more responsibility thrust upon the senior officers of a company. The sad part is it is the lower eschelons of the company that will pay the price.

Danny Tse

Perhaps someone should sue the housekeeper....

New York Police confirms driver error in "runaway" Prius crash

HARRISON, N.Y. – A housekeeper who reported that her boss' Toyota Prius accelerated on its own and wouldn't brake as she hurtled toward a stone wall apparently had her foot on the gas pedal the entire time, according to a police investigation that concluded the driver, not the car, caused the accident.

The March 9 crash in a suburban New York driveway came the day after a driver in San Diego reported that the gas pedal got stuck on his 2008 Prius, resulting in a wild 94 mph ride on a Southern California freeway.

The two accidents raised new questions about Toyota's accelerators. The company had already recalled more than 8 million cars over gas pedals that could become stuck or be held down by floor mats.

But in the California case, Toyota said its tests showed the car's gas pedal, backup safety system and electronics were working fine.

And on Monday, Harrison police Capt. Anthony Marraccini said, "The vehicle accelerator in this case was depressed 100 percent at the time of collision, and there was absolutely no indication of any brake application."

The data came from the car's on-board event data recorder and computer and was downloaded during an inspection Wednesday joined by Toyota and the National Highway Safety Traffic Administration, which also concluded the car was not at fault. The event data recorder, or "black box," is designed to record the state of the car at the moment of an impact.

Marraccini said the 56-year-old driver "believes she depressed the brake, but that just simply isn't the case here." She did not try to deceive police, he said, and she faces no charges.

Toyota spokesman Wade Hoyt said owner of Priuses can feel secure that "if you step on the brake they'll stop, even if the accelerator is glued to the floor."

The company also issued a statement saying it would continue to investigate "reported incidents of unintended acceleration."

The New York driver, identified as Gloria Rosel, did not come to the door of the house where she works Monday. Calls there were not returned.

Marraccini said the car's computers showed that the Prius' top speed down the driveway was 35 mph; it slowed once when it hit a curb and it was going 27 mph when it hit the wall across the street from the driveway entrance.

The car's front end was wrecked but the driver was not seriously hurt.

The captain displayed a page from the computer readout that showed an accelerator sensor measuring 99.9 percent while a brake sensor showed zero. One critical finding, he said, was that although the throttle was fully open at the time of impact, the gas pedal returned to its normal position after the crash, indicating it did not stick.

Some consumer groups and safety experts have said the problems could be caused by faulty electronic throttles. Toyota has said it has found no evidence of problems with its electronics.

madmax

Hmmm... time to look into some toyota stock!
madmax

maximillian

Actually, that's not a bad idea. Toyota is ahead of the rest in profits. I think this accelerator problem is temporary (a year) then they will be raking in the money once again.

BTW, I am in no way shape or form a stock analyst. But I pay one on the Internet.

Knucklehead

maximillian wrote: »

BTW, I am in no way shape or form a stock analyst. But I pay one on the Internet.

Max, do you "pay" one or "play" one? :D Just messin with ya man!

Danny Tse

From Autoguide.com....

CNN Erroneously Reports Secret Document Shows Toyota Knew of Sudden Acceleration in 2002

CNN Erroneously Reports Secret Document Shows Toyota Knew of Sudden Acceleration in 2002

After Toyota recently debunked an ABC News report about sudden acceleration in its vehicles, the Japanese automaker has now decided to take on CNN, after the news outlet reported that Toyota knew about sudden acceleration issues as far back as 2002.

The story by CNN’s special investigations unit reports that in a secret document Toyota admitted to electronic issues related to the throttle, even saying that in 2002, “Toyota had a sudden acceleration problem and that according to Toyota’s own technical service bulletin, the problem was electronic.”

Toyota has responded, essentially debunking the document and exposing CNN’s faulty reporting; the “secret document” being a 2002 Technical Service Bulletin (TSB) published by Toyota and sent to all of its dealers as well as being publicly available online through several government and independent websites as well as through Toyota’s own site: https://techinfo.toyota.com. In fact, the 2002 TSB was discussed by Toyota Motor Sales USA President Jim Lentz during his appearance before the Congressional testimony looking into Toyota’s recall woes.

As for the content of the TSB, Toyota says that the issue was never sudden acceleration but rather, “a drivability issue at speeds of between 38 and 42 miles per hour at light throttle.” the TSB continues, “This condition was strictly related to a function internal to the transmission torque converter under certain throttle conditions. It manifested as a slight rocking motion, or surge, while holding steady throttle at the specific speed window. This issue was in no way related to any kind of sustained acceleration.”

Toyota contests the misinterpretation of the word “surge” in the document, which is says has been taken out of context. Toyota’s statement says that, “The term surge has been used across the industry for many years to describe a condition where there is a very slight slow-down and speed-up perception (typically two miles per hour or less) while holding steady throttle at low to moderate speeds.” Toyota also says almost every other automaker has issued a similar TSB, with 80 such TSBs being published in the last 10 years.

It would appear as though CNN has now followed after ABC News, with horribly poor investigative journalism that puts ratings ahead of integrity, research and fact checking.

cnh

Remember Bridgestone tires and the tread separation fiasco that was going to eliminate the company from the face of the earth? Anyone seen any Bridgestones lately....I think so.

Or how about that Tylenol scare many years ago. How is their parent company's stock doing. Selling any less Tylenol these days.

Most investor savvy know when to 'buy'. And this might just be a good moment to actually buy some Toyota stock..maybe! I'm not a stockbroker. But I've seen too many gloom and doom predictions go exactly the other way?

cnh

hearingimpared

cnh wrote: »

Remember Bridgestone tires and the tread separation fiasco that was going to eliminate the company from the face of the earth? Anyone seen any Bridgestones lately....I think so.

Or how about that Tylenol scare many years ago. How is their parent company's stock doing. Selling any less Tylenol these days.

Most investor savvy know when to 'buy'. And this might just be a good moment to actually buy some Toyota stock..maybe! I'm not a stockbroker. But I've seen too many gloom and doom predictions go exactly the other way?

cnh

Hear, hear!