SAN FRANCISCO, Jan. 29, 2019 /PRNewswire/ -- Hagens Berman Sobol Shapiro LLP reminds investors in Nissan Motor Co. (NSANY) of the February 8, 2019 Lead Plaintiff deadline in the pending securities fraud lawsuit. 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.
Reuters reported on December 31, 2018 that the Tokyo District Court said it extended Ghosn's detention until January 11, 2019 but, more recently, the Tokyo court reportedly rejected Ghosn's latest request for bail.
Bloomberg reported on January 28, 2019 that the SEC is investigating whether Nissan's executive-pay disclosures were accurate and whether it had adequate controls to prevent improper payments.
"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.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000
SOURCE Hagens Berman Sobol Shapiro LLP