Pomerantz LLP is investigating claims on behalf of investors of Nissan Motor Co., Ltd. ("Nissan" or the "Company"). The investigation concerns whether Nissan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 19, 2018, media outlets reported that the Company's Chairman Carlos Ghosn had been arrested by Japanese authorities for violations of Japanese financial law. In a press release, Nissan stated that the Company "has been conducting an internal investigation over the past several months regarding misconduct involving the company's Representative Director and Chairman Carlos Ghosn and Representative Director Greg Kelly", which revealed "that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn'scompensation." The Company further stated that "in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly's deep involvement has also been confirmed." Following this news, Nissan's American depositary receipt price fell sharply during intraday trading on November 19, 2018.