Hagens Berman Notifies Nissan Motor Co. (OTC BB: NSANY) Investors of Securities Fraud Lawsuit, Indictment of Nissan’s Former Chairman, and February 8, 2019 Lead Plaintiff Deadline
San Francisco - Hagens Berman Sobol Shapiro LLP notifies investors in Nissan Motor Co. (OTC BB: NSANY) of the February 8, 2019 Lead Plaintiff deadline in the securities fraud lawsuit pending in the United States District Court for the Middle District of Tennessee. If you purchased or otherwise acquired Nissan securities between December 10, 2013 and November 16, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
Nissan and senior management are accused of intentionally understating the Company’s expenses and overstating its profits by concealing millions of dollars in annual compensation Nissan was obligated to pay to its former Chief Executive Officer and Chairman (Carlos Ghosn).
When, on November 19, 2018, investors learned that Japanese law enforcement arrested Ghosn for making false financial filings in violation of Japanese law the price of Nissan ADRs fell over 5% to close at $16.90.
Then, on December 10, 2018, the Wall Street Journal reported Tokyo prosecutors formally charged Ghosn with conspiracy to underreport tens of millions of dollars of his compensation within Nissan’s regulatory filings.
“Foreign companies issuing securities in the U.S. are not exempt from our securities laws,” said Hagens Berman partner Reed Kathrein. “We’re focused on investors’ losses and the extent to which Nissan’s historical financial statements may have been misleading.”
Whistleblowers: Persons with non-public information regarding Nissan should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email NSANY@hbsslaw.com.
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Reed Kathrein, 510-725-3000
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