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Press release content from Business Wire. The AP news staff was not involved in its creation.

The Law Offices of Frank R. Cruz Announces Investigation of Mitsubishi Electric Corporation (MIELY) on Behalf of Investors

July 9, 2021 GMT

LOS ANGELES--(BUSINESS WIRE)--Jul 9, 2021--

The Law Offices of Frank R. Cruz announces an investigation of Mitsubishi Electric Corporation (“Mitsubishi Electric” or the “Company”) (OTC: MIELY ) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

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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, Mitsubishi Electric’s American Depositary Shares (“ADSs”) fell $1.54 per ADS, or 5%, to close at $27.30 per ADS on July 1, 2021.

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, Mitsubishi Electric’s ADSs fell over 5% over the next three days to close at $26.15 per ADS on July 8, 2021.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

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If you purchased Mitsubishi Electric ADSs, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20210709005096/en/

CONTACT: The Law Offices of Frank R. Cruz, Los Angeles

Frank R. Cruz, 310-914-5007

fcruz@frankcruzlaw.com

www.frankcruzlaw.com

KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: The Law Offices of Frank R. Cruz

Copyright Business Wire 2021.

PUB: 07/09/2021 10:50 AM/DISC: 07/09/2021 10:51 AM

http://www.businesswire.com/news/home/20210709005096/en