It's Grand Jury & SEC Subpeoena Time for Toyota!
Posted: Mon Feb 22, 2010 4:18 pm
Feb 22, 2010: Federal prosecutors have opened a criminal investigation into Toyota's safety problems. Toyota said it received a subpoena from a federal grand jury in New York. The subpeona seeks documents related to the various recent Toyota Recalls. Toyota also said it received a subpoena and a voluntary document request from the Los Angeles office of the U.S. Securities and Exchange Commission. The SEC is seeking documents related to unintended acceleration as well as to its disclosure policies and practices.
Toyota highlighted some challenges it faces, including an "activist administration & Congress - increasing laws & regulation," "massive government support for Detroit automakers" along with "continuing economic difficulty."
Under a heading titled "key safety issues," Toyota called the Transportation Department and NHTSA under Obama "not industry-friendly" and said the auto industry expected "a more challenging regulatory and enforcement environment."
See the Asscoated press article Toyota gets US grand jury subpoena for documents
Toyota highlighted some challenges it faces, including an "activist administration & Congress - increasing laws & regulation," "massive government support for Detroit automakers" along with "continuing economic difficulty."
Under a heading titled "key safety issues," Toyota called the Transportation Department and NHTSA under Obama "not industry-friendly" and said the auto industry expected "a more challenging regulatory and enforcement environment."
See the Asscoated press article Toyota gets US grand jury subpoena for documents