SHAREHOLDER ALERT: Nissan Motor Co., Ltd. (OTC: NSANY)
(ShareholderAlert.com) — Shareholder Alert, a free shareholder news & information service announces that class actions have commenced on behalf of shareholders of Nissan Motor Co., Ltd. (OTC: NSANY). If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found below.
Nissan Motor Co., Ltd. (OTC: NSANY)
Class Period: December 10, 2013 and November 16, 2018
Lead Plaintiff Deadline: February 8, 2019
According to the Complaint, the Company made false and misleading statements to the market. Nissan understated its expenses by hiding half of former Chairman and CEO Carlos Ghosn’s compensation. By not reporting this compensation, the Company was able to overstate profits, and avoid investor scrutiny of Ghosn’s extremely large compensation package. Ghosn’s compensation was underreported over the last decade by an amount estimated at almost $90 million USD. Nissan also failed to inform investors about the poor internal controls that allowed the deceptive compensation practices to be put in place. At the same time, it ignored the advice of outside auditors who advised the Company to put proper controls in place. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Nissan, investors suffered damages.