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03-18-2010, 01:45 PM
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#476
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13 Second Club / Moderator
Join Date: Jan 2005
Location: Franklin Lakes, NJ
Posts: 8,694
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Quote:
Originally Posted by Savage_Messiah
Not possessive, so you meant Toyatas. You also meant breaking. All that money for college has done you well.
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Or has it made him a genius? I thought it was a play on words when I read it!
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Quote:
Originally Posted by LS1ow
Except Jersey mike, great kid, but the way he looks at me makes me feel like im in danger
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03-18-2010, 03:57 PM
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#477
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Join Date: Jun 2007
Location: Arm pit of the world... NJ
Posts: 2,677
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Quote:
Originally Posted by qwikz28
Or has it made him a genius? I thought it was a play on words when I read it!
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You're giving him way too much credit.
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John
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03-21-2010, 08:00 PM
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#478
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I <3 sheep
Join Date: Mar 2005
Location: Belmar
Posts: 4,907
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__________________
Quote:
Originally Posted by Tru2Chevy
Steve has a thing for sheep....
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'78 Big Wheel- 2FWFP
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03-21-2010, 09:47 PM
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#479
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by SteveR
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Waait, This is over 10.66 cents in stock prices? Am I reading this right?
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03-21-2010, 09:53 PM
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#480
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13 Second Club / Moderator
Join Date: Jan 2005
Location: Franklin Lakes, NJ
Posts: 8,694
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Quote:
Originally Posted by Tsar
Waait, This is over 10.66 cents in stock prices? Am I reading this right?
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$10.66. For someone with thousands of shares, that is a decent chunk of money.
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Quote:
Originally Posted by LS1ow
Except Jersey mike, great kid, but the way he looks at me makes me feel like im in danger
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03-21-2010, 09:57 PM
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#481
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by qwikz28
$10.66. For someone with thousands of shares, that is a decent chunk of money.
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I'm well aware of that. But they are UP from the time the recall started. Plus if this lawsuit was to succeed, where would we stop? What if stock dips by 5 dollars? Do I sue? 4 bucks? 2.50? Any dip in stock is a loss to someone. How do we determine that the loss has been sufficient enough that one can sue a company?
And as I already said their stock is UP by $1.34 overall since the recalls began, so are we suiting for what "could have been?".
With that said, anyone can file a lawsuit so any reason. My guess this will be tossed out.. But only time will tell.
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03-21-2010, 10:00 PM
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#482
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Join Date: Dec 2008
Location: NNJ
Posts: 1,489
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Not so much they lost money...
Quote:
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Toyota spread misleading information through press releases, conference calls with stock analysts and TV interviews to assure stockholders and the public that the accelerator problem was easily fixed or might be the driver's fault.
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__________________
1997 Camaro Z28 - 355 LT1, T56, CC503, LTs, ORY, Bald Eagle-back exhaust, !emissions, Lingenfelter CAI, EWP, !CAGS, BMR LCAs, UMI PHB, Koni Str.t/Koni SA, C5 Z06 front / LS1 F-body rear brake swap, factory hurst with short stick 
2014 2LT Cruze 2.0 Turbo Diesel
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03-21-2010, 10:08 PM
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#483
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by 97camaro
Not so much they lost money...
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The part that worries me is:
Quote:
"This drop removed the inflation from Toyota's securities prices, causing real economic loss to investors who had purchased securities," said Stackhouse, who said he bought 40 shares in late 2009 just as the accelerator problems became more widely known.
Stackhouse and the others filing suit — shareholders from Ohio and Tennessee_ did not return several telephone calls seeking comment. All three investors filed sworn statements that they did not buy the shares as an excuse to sue the company.
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"Dude" bought 40 shares, and he is complaining about "real economic hard". Smells funky.
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03-21-2010, 10:19 PM
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#484
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Join Date: Dec 2008
Location: NNJ
Posts: 1,489
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Quote:
Originally Posted by Tsar
The part that worries me is:
"Dude" bought 40 shares, and he is complaining about "real economic hard". Smells funky.
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You make a valid point there ... all I can say is what a mess! Where would you draw the line?
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1997 Camaro Z28 - 355 LT1, T56, CC503, LTs, ORY, Bald Eagle-back exhaust, !emissions, Lingenfelter CAI, EWP, !CAGS, BMR LCAs, UMI PHB, Koni Str.t/Koni SA, C5 Z06 front / LS1 F-body rear brake swap, factory hurst with short stick
2014 2LT Cruze 2.0 Turbo Diesel
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03-21-2010, 11:49 PM
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#485
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Join Date: Jul 2004
Location: West Long Branch
Posts: 13,598
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Be it 1 share, or 4000 shares, they mislead shareholders, which is agaisnt FTC's laws.
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2/20/2013: They Day the ****s Stopped
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03-22-2010, 07:57 AM
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#486
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by BigAls87Z28
Be it 1 share, or 4000 shares, they mislead shareholders, which is agaisnt FTC's laws.
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And people already tried to sue ford, and failed. And why aren't you suing GM?
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03-22-2010, 09:46 AM
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#487
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Join Date: Jul 2004
Location: West Long Branch
Posts: 13,598
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Quote:
Originally Posted by LTs1ow
You can't sue the messiah, its blasphemy.
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You are and idiot.
Can't sue GM for going into Chap 11. I sold it before it went to crap. Can't say the same for my brother. Bondholders put together a law suit but they had to get in line.
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2/20/2013: They Day the ****s Stopped
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03-22-2010, 11:10 AM
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#488
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by BigAls87Z28
You are and idiot.
Can't sue GM for going into Chap 11. I sold it before it went to crap. Can't say the same for my brother. Bondholders put together a law suit but they had to get in line.
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But you still took a loss, if I remember correctly. Did you intend on taking a loss when you were buying stock? Or were you hoping, based on some info, that GM stock would go up in price and you would be able to sell somewhere down the road for more? Was the info you were basing your information on misleading? Of course it was, the stock tanked. So I think you should file a suit too... and claim economic harm.
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03-22-2010, 11:57 AM
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#489
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Join Date: Jul 2004
Location: West Long Branch
Posts: 13,598
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Ahh...no, going to the government, and asking for money to help them survive was not a "HEY, WE ARE DOING OK!! DONT WORRY ABOUT THIS!" move.
Toyota, on the other hand, downplayed and just shrugged it off as it was just a simple little mistake like a stupid floor mat.
Stocks go up and down. But if you manipulate the news to stimulate stock pricing, then thats illegal.
Anyone that was still hoping for GM to pull it out was crazy. But people expected Ford to take a crap as well. Some people held on, like my brother did, and now he has easily covered his loss at GM.
Yet...some how you drag GM into this.
Toyota lied and cheated the American people, but I guess its ok since its just a few bucks for a few people.
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2/20/2013: They Day the ****s Stopped
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03-22-2010, 12:29 PM
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#490
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Admin.
Join Date: Aug 2005
Location: Hamilton, NJ
Posts: 20,165
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I think the legal question is did Toyota withhold material information and thus mislead shareholders. This is hard to prove. That is what NY’s Cuomo and company are trying to pin on BoA related to the Merrill purchase. They argue the bank failed to tell investors about Merrill bonuses and much higher then expected losses just prior to the shareholder vote to approve the buyout. BoA is arguing that is was not material (and they were pushed by the government). I think an agreement to some of the suits was recently reached. Here the argument will be Toyota hid the fact they knew they had billions in potential liabilities and reputational damage and said nothing. I’m not sure how that will go, probably a settlement of some sort. Which is why they file.
I do not think old GM did that. The numbers in their annual reports are what they are, with never ending negative cash flows. Anyone who looked at the numbers knew that. Every analyst report I looked at talked about it. There was no underlying issue that was never publically documented. They outlined their turnaround plan and an investor could choose to believe it or not. But that plan did not forecast a historic drop in auto sales, the proverbial last nail in the coffin. But the info is there, I know of no intention misleading of investors. Poor management itself is not a crime, nor is a drop in share value. Shareholders do elect BOD members who pick management. So they can sue themselves.
Now stop picking on Al.
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Vent Windows Forever!
The looser the waistband, the deeper the quicksand. Or so I have read.
Feather-light suspension, Konis just couldn't hold. I'm so glad I took a look inside your showroom doors.
Hey everybody, it's good to have you on the Baba-too-da-ba-too-ba-ba-buh-doo-ga-ga-bop-a-dop
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03-22-2010, 02:35 PM
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#491
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I <3 sheep
Join Date: Mar 2005
Location: Belmar
Posts: 4,907
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I saw on the news this morning that the shareholders are suing because they do have proof. They claim Toyota provided them with false information and claimed that all of the acceleration problems were due solely to user error and it was because people were jamming the floor mat against the gas pedal. They told the shareholders that all of this would go away and to keep buying stocks and the stock prices were going to go up. They also said on the news that Toyota provided them with doctored reports and false information.
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Quote:
Originally Posted by Tru2Chevy
Steve has a thing for sheep....
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'78 Big Wheel- 2FWFP
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03-22-2010, 05:01 PM
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#492
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by BigAls87Z28
Toyota, on the other hand, downplayed and just shrugged it off as it was just a simple little mistake like a stupid floor mat.
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Show me proof where it says they maliciously did what they did, and it was not a simple mistake? You can't. End of story. To this day no one has been able to re create what this fuss is all about.
Quote:
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Stocks go up and down. But if you manipulate the news to stimulate stock pricing, then thats illegal.
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Sure, if one can prove that there was some sort of manipulation.
Quote:
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Yet...some how you drag GM into this.
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It was an example, you can replace GM with any company if you like. Now dig out your panties out of your vag.
Quote:
Originally Posted by BonzoHansen
I think the legal question is did Toyota withhold material information and thus mislead shareholders. This is hard to prove.
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Ford was sued for a similar thing, whoever was suing failed. Company is not obligated to release any kind of info unless they are absolutely sure of it, so this gives no reason to Toyota to murder their own stock prices as they figure out what's going on.
Quote:
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I do not think old GM did that. The numbers in their annual reports are what they are, with never ending negative cash flows. Anyone who looked at the numbers knew that.
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GM has mislead plenty of people, from re-badging Chevy's as a Caddy, to side saddle gas tanks. I don't want to give Al a heart attack though.
It's fun to do 
Quote:
Originally Posted by SteveR
I saw on the news this morning that the shareholders are suing because they do have proof. They claim Toyota provided them with false information and claimed that all of the acceleration problems were due solely to user error and it was because people were jamming the floor mat against the gas pedal.
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If they have proof, great!
Just now I saw some commissioner dude on TV who was talking about the latest prius crash where the woman claimed that her car got away from her because the gas pedal got jammed and she was not able to stop; even though she was mashing the brake as hard as she could. It was said that she's a big liar and never stepped on the brakes, the accident was determined to be a user error.
I'm still waiting for someone to re create this Toyota run away problem without crafty video editing.
Ok I'm spent.. 
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03-22-2010, 05:55 PM
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#493
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Join Date: Jul 2004
Location: West Long Branch
Posts: 13,598
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You are such a ****, really.
Why recreate it when more people can die? Or more documents can come out showing that Toyota have, and for some time, tried to cover up thier problems.
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2/20/2013: They Day the ****s Stopped
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03-22-2010, 06:00 PM
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#494
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I <3 sheep
Join Date: Mar 2005
Location: Belmar
Posts: 4,907
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Quote:
Originally Posted by BigAls87Z28
Or more documents can come out showing that Toyota have, and for some time, tried to cover up thier problems.
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That's what that lawyer claims to have. Documents showing that Toyota covered up the problems, as well as withheld information in the lawsuits, and doctored the crash tests.
__________________
Quote:
Originally Posted by Tru2Chevy
Steve has a thing for sheep....
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'78 Big Wheel- 2FWFP
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03-22-2010, 06:39 PM
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#495
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by SteveR
That's what that lawyer claims to have. Documents showing that Toyota covered up the problems, as well as withheld information in the lawsuits, and doctored the crash tests.
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If that was the case they would probably get "leaked" by now.
P.S. Al needs a hug.
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03-22-2010, 07:08 PM
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#496
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I <3 sheep
Join Date: Mar 2005
Location: Belmar
Posts: 4,907
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Quote:
Originally Posted by Tsar
If that was the case they would probably get "leaked" by now.
P.S. Al needs a hug.
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There was something about how he isn't allowed to release them.
__________________
Quote:
Originally Posted by Tru2Chevy
Steve has a thing for sheep....
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'78 Big Wheel- 2FWFP
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03-22-2010, 07:44 PM
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#497
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by SteveR
There was something about how he isn't allowed to release them.
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Top secret info gets "leaked" somehow.
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03-23-2010, 05:38 AM
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#498
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Join Date: Jul 2005
Location: Williamstown NJ
Posts: 479
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Quote:
Originally Posted by Tsar
Top secret info gets "leaked" somehow. |
Not if the lawyer is holding on to it hoping for a big payoff to keep it secret.
__________________
F-Bodyless 
01 GMC Sierra C3 6.0L, AWD, Westers Tune, K&N, Hella LED Tails
03 Pontiac Grand Prix GT, GMPP Handling Kit, LS1 F-Body Brakes
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03-23-2010, 08:36 AM
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#499
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Ayatollah of Rock N Rolla / Admin
Join Date: Mar 2006
Location: Parts Unknown
Posts: 12,573
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Quote:
Originally Posted by Mark B
Not if the lawyer is holding on to it hoping for a big payoff to keep it secret.
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Or if he's the only one who has it. If it "leaks" they know who did it.
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03-23-2010, 09:38 AM
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#500
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MIR
Join Date: Jul 2005
Posts: 9,692
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Quote:
Originally Posted by WildBillyT
Or if he's the only one who has it. If it "leaks" they know who did it.
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Come on, there are so many ways around that...
Edit* plus what are the odds that he is the ONLY person that has documents that can "put the final nail in a Toyota coffin"? I'm gonna go with slim.
Last edited by Tsar; 03-23-2010 at 09:39 AM.
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