A federal judge has delayed appointing the lead plaintiffs attorneys in the shareholder litigation against Toyota Motor Corp. until the U.S. Supreme Court decides whether foreign purchasers of a company’s U.S. stock have standing to sue in the United States.
U.S. District Judge Dale Fischer agreed on June 7 to consolidate seven class actions pending in Los Angeles on behalf of Toyota shareholders whose holdings declined by tens of millions of dollars after the company announced a series of recalls associated with sudden unintended acceleration.
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