NEW YORK, April 20, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Mitsubishi Motors Corp. ("Mitsubishi" or the "Company") (OTCMKTS: MMTOF). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237.
The investigation concerns whether Mitsubishi and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On April 20, 2016, pre-market, the Company issued a press release stating "[Mitsubishi Motors Corp.] conducted testing improperly to present better fuel consumption rates than the actual rates; and that the testing method was also different from the one required by Japanese law."
On this news, the Company shares fell as much as $0.91, or 12.04%, during intraday trading on April 20, 2016.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, 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, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm 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.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP