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The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased Nissan Motor Co., Ltd. (OTCMKTS: NSANY) American Depositary Receipts between December 10, 2013 and November 16, 2018.
The complaint alleges that 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.
Shareholders have until February 8, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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