NEW YORK, Oct. 14, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors in Honda Motor Co., Ltd. (“Honda” or the “Company”) HMC. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 7980.

The investigation concerns whether Honda and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On September 28, 2022, a putative class-action lawsuit was filed against Honda, alleging that the company has sold thousands of vehicles that have a critical safety defect that puts drivers and others at serious risk of injury. Specifically, the lawsuit against Honda alleges that a wide range of Honda vehicles share a faulty “Auto Start/Stop” (also called “Idle Stop”) feature that aims to save fuel by turning the engine off stops and that the idle stop system in these vehicles routinely fails to restart the engine as intended, leaving drivers unable to move their vehicles. The lawsuit further alleges that Honda was fully aware of the defect prior to marketing the vehicles.

As a result of this news, the price of Honda’s American Depositary Receipt (“ADR”) fell $0.74 per ADR, or 3.23%, to close at $22.19 per ADR on September 29, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, best known as Dean of the Class Bar Association, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues the tradition he founded and fights for the rights of victims of securities fraud, fiduciary breaches and corporate wrongdoing. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomlaw.com.

CONTACT:
Robert S Willoughby