Robbins Arroyo LLP: Nissan Motor Co., Ltd. (NSANY) Misled Shareholders According to Class Action
SAN DIEGO & YOKOHAMA, Japan--(BUSINESS WIRE)--Dec 18, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Nissan Motor Co., Ltd. (OTC: NSANY) filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between December 10, 2013 and November 16, 2018. Nissan is an automobile manufacturer.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/nissan-motor/
Nissan Accused of Understating Executive Compensation to Avoid Shareholder Scrutiny
According to the complaint, Nissan understated its expenses and overstated its profits by concealing half of the annual executive compensation it was obligated to pay to its former Chief Executive Officer and Chairman of its Board of Directors, Carlos Ghosn. Over the last ten years, while emphasizing the company’s “strong ethics” and “high transparency”, Nissan underreported Ghosn’s true pay by an estimated ¥10 billion. In fact, Nissan disregarded the express direction of its outside auditors dating back to at least 2013, to accurately report its executive compensation, and ignored the cap Nissan’s shareholders placed on CEO pay at Nissan. On November 19, 2018, investors learned that Ghosn and Greg Kelly, former Senior Vice President and alleged mastermind behind Ghosn’s exorbitant compensation, had been arrested and jailed for violating a Japanese law that prohibits false financial filings. On this news, Nissan’s shares fell nearly 5.5% on November 19, 2018.
Nissan Motor Co. Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181218005792/en/
CONTACT: Leonid Kandinov
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Robbins Arroyo LLP
Copyright Business Wire 2018.
PUB: 12/18/2018 02:25 PM/DISC: 12/18/2018 02:25 PM