Mitsubishi Electric Corporation (MIELF/MIELY)


Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Mitsubishi To Contact Him Directly To Discuss Their Options

Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Mitsubishi Electric Corporation (“Mitsubishi” or the “Company”) (OTC:MIELF/MIELY).

If you suffered losses exceeding $50,000 investing in Mitsubishi stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also fill out the form below. 

There is no cost or obligation to you.

Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Delaware, Pennsylvania, California and Georgia.

On June 30, 2021, The Asahi Shimbun, a Japanese newspaper, published an article entitled “Mitsubishi Electric faked train test data likely for decades” which reported that “Mitsubishi Electric Corp. is feeling the heat after admitting that it has faked testing data when supplying train companies with air conditioning equipment apparently for more than 30 years.” The article further reported that “[a]lthough no such tests were conducted, fake data was created and included in test reports to give the appearance there were no problems with the equipment.”

On this news, the Company’s ADSs fell $1.54 per ADS, or 5%, to close at $27.30 per ADS on July 1, 2021.

Then, on July 2, 2021, Nikkei Asia published an article entitled “Mitsubishi Electric CEO Sugiyama quits over fake inspections: Outgoing chief admits ‘systemic wrongdoing’ going back decades at industrial group[.]”

On this news, the Company’s ADSs fell another 5% over the next three days to close at $26.15 per ADS on July 8, 2021.

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Details

Filed on 08/05/2021

Ticker OTC: MIELF/MIELY

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Robert W. Killorin rkillorin@faruqilaw.com Phone (404) 847-0617 Fax (404) 506-9534

James M. Wilson, Jr. jwilson@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

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685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

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Atlanta, Georgia 30342
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(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania