Grand Jury Subpoenas Toyota Documents
A federal prosecutor and the Securities and Exchange Commission have opened investigations into Toyota over its recent recalls and safety issues, the automaker acknowledged today.
Toyota says it plans to comply with subpoenas issued from both. The grand jury request was made from the Southern District of New York on Feb.8, but the U.S. Attorney’s Office in that district has not confirmed the investigation. The company also says the SEC has filed a subpoena as well for a document request. The SEC is reportedly looking into the company’s disclosure policies and practices.
These two investigations could be more damaging to the company than the public hearings in front of Congress scheduled for the next two days. Some experts tell the Associated Press that the subpoenas might limit the amount of testimony Toyota executives are willing to give at the hearings because of the risk of legal liability.
Toyota says it plans to comply with subpoenas issued from both. The grand jury request was made from the Southern District of New York on Feb.8, but the U.S. Attorney’s Office in that district has not confirmed the investigation. The company also says the SEC has filed a subpoena as well for a document request. The SEC is reportedly looking into the company’s disclosure policies and practices.
These two investigations could be more damaging to the company than the public hearings in front of Congress scheduled for the next two days. Some experts tell the Associated Press that the subpoenas might limit the amount of testimony Toyota executives are willing to give at the hearings because of the risk of legal liability.
Previous
Subscribe to our feed
Email us your tips!
reminds me of the Pinto memos.
News flash - "FBI raids the offices of two toyota suppliers in an ongoing investigation of recalls." How much is this thing going to cost the taxpayers?
raids haven't been explained yet. Supposedly it's about price fixing, not recalls. but nothing is confirmed.