Investigating Toyota Accelerator Problems
A growing number of investigations into Toyota vehicles has begun as a result of unintended sudden acceleration problems. Currently, the FBI, a U.S. Attorney’s office in New York, the S.E.C., and most recently, a Canadian parliamentary probe have joined Congress and federal regulators investigating the auto manufacturer, according to press reports.
The focus of the investigations will reportedly look at whether the safety problems were fully disclosed and whether Toyota investors were adequately warned about possible problems pursuant to securities laws.
According to reports, some investigations could also look at the company’s competitive practices and advertising claims.
Possible charges that could be brought reportedly include wire fraud and racketeering, according to Jeffrey Isaacs, former federal prosecutor and deputy chief of the special operations and litigation division for the Los Angeles city attorney's office.
According to Joan Claybrook, an attorney and former head of the National Highway Traffic Safety Administration, the largest liability would attach in the event investigators conclude that Toyota knowingly concealed a defect or safety problem from federal safety regulators.
Claybrook also reportedly said that Toyota could be charged under the TREAD Act, a law enacted in the wake of the Firestone tire recall that was a consequence of fatal Ford Explorer rollover accidents tied to the tires.
