Processing your request


please wait...

Case Page

 

Case Status:    ONGOING    
On or around 08/05/2019 (Ongoing date of last review)

Filing Date: December 10, 2018

On December 10, 2018, Plaintiff's law firm issued a press release announcing the lawsuit. According to the press release, the Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Nissan’s business and financial condition. Specifically, according to the Complaint, Nissan has been materially understating its expenses and overstating profits by concealing half of the annual executive compensation it was obligated to pay its former Chief Executive Officer (“CEO”) and Chairman of its Board of Directors (“Board”), in order to avoid shareholder scrutiny of the CEO’s inordinately high executive compensation. The Company also concealed from investors the significant defects in its corporate governance and internal controls and affirmatively failed to heed the express direction of its outside auditors dating back to at least 2013 to accurately report its executive compensation. Not only did the underreporting deceive Nissan’s investors, it violated the pay cap Nissan shareholders approved.

On February 26, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on May 6.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Auto & Truck Manufacturers
Headquarters: Japan

SECURITIES INFORMATION:

Ticker Symbol: NSANY
Company Market: OTC-BB
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: M.D. Tennessee
DOCKET #: 18-CV-01368
JUDGE: Hon. William L. Campbell, Jr.
DATE FILED: 12/10/2018
CLASS PERIOD START: 12/10/2013
CLASS PERIOD END: 11/16/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Nashville)
  2. VanOverbeke Michaud & Timmony, P.C.
No Document Title Filing Date
COURT: M.D. Tennessee
DOCKET #: 18-CV-01368
JUDGE: Hon. William L. Campbell, Jr.
DATE FILED: 05/06/2019
CLASS PERIOD START: 05/11/2014
CLASS PERIOD END: 11/16/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (Nashville)
    414 Union Street, Suite 900, Robbins Geller Rudman & Dowd LLP (Nashville), TN 37219
    615-244-2203 615-252-3798 ·
  2. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
No Document Title Filing Date
—Related District Court Filings Data is not available