Case Spotlight: Mitsubishi Motors Corporation

FRT Marketing
FRT Marketing
March 14, 2018

By Andrew Lasky, Legal Product Specialist, Financial Recovery Technologies

CompanyMitsubishi Motors Corporation
JurisdictionJapan
ExchangeTYO
IndustryAutomotive
ClaimsFinancial Instruments Exchange Act (FIEA) and Japanese Civil Code (JCC) Claims
Relevant PeriodJanuary 1, 2011 – April 30, 2017
Participation DeadlineMarch 30, 2018

CASE BACKGROUND

On April 20, 2016, Mitsubishi Motors Corp. (“Mitsubishi”) acknowledged that they had been falsifying Japanese emissions tests since at least June 2013. Following the initial announcement, the company disclosed to the market that its emission testing fraud actually extended back 25 years, to 1991, and they had been using the improper testing methods on all models of its cars.

DETERMINING ELIGIBILITY & COSTS

According to DRRT, Miami-based investment recovery firm who is working in partnership with local counsel, Mitsubishi first filed a complaint on June 27, 2017, for a group of 100 institutional investors totaling $160 million in damages.

Due to the Statute of Limitations expiring on April 20, 2018, along with increased investor interest, DRRT plans on filing a second complaint on behalf of investors who did not have the opportunity to join the initial action. This will be shareholders’ last opportunity to join this action for a potential recovery against Mitsubishi.

Learn More

FRT has issued the following alerts to FRT Global Group Litigation clients:

  • Action Alert: March 5, 2018
  • Update Alert: June 16, 2017
  • Full Alert: May 26, 2016

For more information on this case or FRT Global Group Litigation service, please contact us at learnmore@frtservices.com.

About FRT

U.S. CLAIMS  I  GLOBAL GROUP LITIGATION  I  ANTITRUST  I  LITIGATION MONITORING  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.

ABOUT FINANCIAL RECOVERY TECHNOLOGIES
SETTLED  I  NON-US GLOBAL OPT-IN  I  ANTITRUST  I  GLOBAL PASSIVE  I  DIRECT OPT-OUT  I  BUYOUTS

Founded in 2008, Financial Recovery Technologies (FRT) is a leading technology-based services firm that helps the investment community identify eligibility, file claims and collect funds made available in securities and other class action settlements. Offering the most comprehensive range of claim filing and monitoring services available, we provide best-in-class eligibility analysis, disbursement auditing and client reporting, and deliver the highest level of accuracy, accountability and transparency available. For more information, go to www.frtservices.com.

 

This communication and the content found by following any link herein are being provided to you by Financial Recovery Technologies (FRT) for informational purposes only and does not constitute advice. All material presented herein is believed to be reliable but FRT makes no representation or warranty with respect to this communication or such content and expressly disclaims any implied warranty under law. Opinions expressed in this communication may change without prior notice. Firms should always seek legal and financial advice specific to their unique situation and objectives.