Category Archives: litigation

Deadly Takata Airbags – Toyota Recalls +900K Vehicles Again

Thus, Toyota is recalling a recall on 97 models. The inflators may explode due to propellant degradation occurring after long-term exposure to high absolute humidity, temperature and temperature cycling. Continue reading

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China – SEC Charges 18 Traders for Stock Manipulation

According to the SEC’s complaint, the traders used multiple accounts to place several small sell orders to drive down a stock’s price before using a different set of accounts to buy larger amounts of the stock at the artificially low prices. After amassing their position, the traders placed several small buy orders to push up prices so they could then sell their stock at artificially high prices. Continue reading

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Ghosn Shakeout is Ongoing as Thierry Bolloré, CEO Renault SA, is Fired by the Board of Directors

The Carlos Ghosn matter has turned into farce as investigations into Nissan and its JVs with Renault  0n corporate governance practices post Carlos Ghosn revealed layers of incompetence and/or malfeasance, as well as various degrees of criminal activity that are rarely observed in western corporations. Continue reading

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Fiat Chrysler Cops Plea on Fraudulently Reporting Sales

According to the SEC’s order, between 2012 and 2016, FCA US issued monthly press releases falsely reporting new vehicle sales and falsely touting a “streak” of uninterrupted monthly year-over-year sales growth. However, the growth streak had been broken in September 2013.  Continue reading

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SEC Charges Westport Fuels Systems and ex-CEO with Bribing a Chinese Government Official via a Private Equity Fund

According to the SEC’s order, beginning no later than 2016, Westport, acting through Gougarty and others, engaged in a scheme to bribe a Chinese government official to obtain business and a cash dividend payment by transferring shares of stock in Westport’s Chinese joint venture to a Chinese private equity fund in which the government official held a financial interest. Continue reading

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Death of the Diesel: Volkswagen Board Crisis as Three Chairman Indicted in Germany for Stock Market Manipulation

As a result, the Supervisory Board of Volkswagen AG hastily convened a meeting, claiming that it was unaware that the indictments were coming since it was allegedly cooperating in the investigation by the public prosecutor. It will also meet again tomorrow to discuss what is company threatening development. Continue reading

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Death of the Diesel: Daimler Guilty of Selling Dirty Diesels in Germany – Pays $957,000,000 Fine Rather than Litigate

The negligent violation of supervisory duties occurred on the department head level. It appears that the Daimler has refrained from taking a legal action challenging the fine notice because senior executives are not implicated. The public prosecutor’s administrative offense proceeding against Daimler AG is thereby fully concluded. This is not so at Volkswagen Group where senior executives were indicted today. Continue reading

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SEC Charges and Settles False Financial Disclosures Against Nissan, Former CEO Carlos Ghosn, Former Director Greg Kelly  

Critics no doubt will say the settlement is laughable given the amount of money involved. Continue reading

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Volkswagen Deal on Bogus Gasoline Fuel Economy Ratings

The settlement in Volkswagen’s view removes the uncertainty of protracted litigation and does not include any admission of liability or wrongdoing by Volkswagen. AutoInformed thinks that VW is buying off lawyers in a case that is similar to  – if not identical – the calculated fraud of Dieselgate where it was flagrantly guilty. The Environmental Protection Agency has not agreed to the deal. Continue reading

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Center for Auto Safety, Consumer Watchdog Again Push FTC, State Attorneys General to Probe Tesla After Autopilot Death

Since the consumer groups called on the FTC to investigate one year ago, another American has died (that makes three known fatals), others have been injured, and “many more have acted recklessly as a result of deceptive practices by Tesla making their owners believe that a Tesla with ‘Autopilot’ is an autonomous vehicle capable of self-driving.” Continue reading

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Facebook to Pay $100m for Misleading Investors on Risks from Misuse of User Data Helping Russian Attacks on US Democracy

According to the SEC’s complaint, in 2014 and 2015, the now-defunct advertising and data analytics company, Cambridge Analytica, paid an academic researcher, through a company he controlled, to collect and transfer data from Facebook to create personality scores for approximately 30 million Americans.  Continue reading

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SEC Charges Engine Manufacturing Company Execs with Fraud

According to the complaint, filed in federal court in Chicago, Gary Winemaster, Power Solutions International Inc.’s former CEO, and two former senior sales executives, Craig Davis and James Needham, caused Power Solutions to fraudulently record revenue for purported sales of products that were not complete, that the customer had not agreed to accept, for which the price was falsely inflated, and from improper “bill and hold” arrangements. Continue reading

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Supreme Court Upholds Unconscious Driver Blood Drawing

Gerald Mitchell was arrested for operating a vehicle while intoxicated after a preliminary breath test registered a blood alcohol concentration (BAC) that was triple Wisconsin’s legal limit for driving. Continue reading

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Anheuser Busch Pays $500,000 to Settle Air Quality Violations

Anheuser Busch agreed to pay the $500,000 fine and to comply with all applicable CARB programs. The company also agreed to instruct its vehicle operators to comply with California’s anti-idling regulations, ensure that staff responsible for compliance with smoke-inspection program attend training classes, and provide documentation to CARB that the smoke inspection requirements are being met for the next two years. Continue reading

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Nissan Shareholders Elect 7 Independent Directors Out of 11

The new board of directors comprises 11 individuals, seven of whom are independent outside directors. Power appears to be evenly split between Renault and Nissan despite Nissan’s and the Japanese government’s interest in asserting more control. Renault, which owns 43% of Nissan and the French government, which owns 15% of Renault, are pushing for a merger. Paper organization charts are not always how business is conducted in mega, joint venture corporations. So, it will take some time to see how this works out as the Ghosn matter proceeds through the Japanese “legal” system. Continue reading

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