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Originally Posted by MetroMPG
Oh, and the company's stock hit an all time low yesterday. It's now down something like 40% or -$3 billion.
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Wow. Mitsubishi was, shall we say,
misleadingly optimistic and got caught? The more things change, the more they stay the same:
Safety Scandal Shames Mitsubishi
New Cover-Up Allegations Hobble Japan's Fourth-Largest Automaker
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A raid on Mitsubishi offices five months ago yielded the evidence that exploded into one of the largest corporate scandals ever in Japan. Authorities say seized documents, and subsequent admission of fault by Mitsubishi Motors Corp. (MMC) and a spinoff, Mitsubishi Fuso Truck & Bus Co., indicate that since the 1980s, the automakers systematically hid defects involving 800,000 vehicles.
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