Toyota Motor to Strike Back (NYSE:TM)
Toyota Motor Corp. (NYSE:TM) has had enough of the haters, the company is getting ready to battle its critics and pending lawsuits.
Since mid January Toyota shares have dropped 16% and are now trading in the $76 range. Toyota is planning an assault next week on its critics as the company digs in for a mammoth legal battle. (Wsj.com) In a media event planned for Monday and a Tuesday address to 1,000 suppliers, the Japanese auto maker plans to defend its electronics systems.
It will roll out independent experts like the head of Stanford University's auto-research center to discredit a study that suggests electronics are to blame for sudden acceleration in some Toyota vehicles.