NEW YORK, NY / ACCESSWIRE / November 5, 2022 / Pomerantz LLP is investigating claims on behalf of investors of Honda Motor Co., Ltd.("Honda" or the "Company") (NYSE: HMC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Honda and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On September 28, 2022, a putative class action was filed against Honda alleging that the Company sold thousands of vehicles that contain a critical safety flaw putting drivers and others at serious risk of injury. Specifically, the lawsuit against Honda alleges that a wide range of Honda vehicles share a flawed "auto start/stop" function (also called "Idle Stop") intended to save fuel by shutting the engine down at stops, and that the Idle Stop system in these vehicles routinely fails to restart the engine as designed, leaving drivers unable to move their vehicles. The lawsuit further alleges that Honda was fully aware of the defect before marketing the vehicles.
On this news, Honda's American Depositary Receipt ("ADR") price 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 acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. 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 in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
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