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LOS ANGELES, Feb. 07, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Nissan Motor Co., Ltd. (“Nissan” or “the Company”) (OTC: NSANY) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between December 10, 2013 and November 16, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before February 8, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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