The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Middle District of Tennessee on behalf of investors who purchased Nissan Motor Co., Ltd. (OTCMKTS: NSANY) American Depositary Receipts between December 10, 2013 and November 16, 2018.
According to the Nissan lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) for more than a decade, Nissan had been materially understating its costs–and thus overstating profits–by paying a material portion of Ghosn’s executive compensation in the form of billions of Yen of deferred compensation that the Company was concealing from its public financial reports; (2) in so doing, Nissan was concealing from investors significant defects in its corporate governance; (3) Nissan’s overpayment of defendant Ghosn had caused it to exceed its shareholder-approved executive pay cap, thus threatening its continued stock listing; (4) Nissan lacked effective internal and reporting controls; and (5) as a result, defendants’ statements about Nissan’s business metrics, operations, and financial prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Nissan you have until February 8, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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