The Firm represents over 100 institutional investors in securities litigation in Japan against Nissan Motor Co., Ltd. ("Nissan") and is funding the matter on their behalf. On June 22, 2020, the Firm and its Japanese local counsel filed suit alleging that misconduct by Nissan executives, combined with systemic failures in the Company's internal controls and corporate governance over a period of many years, caused the Company to violate Japanese securities and tort laws, resulting in substantial damages to investors.
The case arises from the November 19, 2018 arrest of Nissan's former Chairman and CEO Carlos Ghosn on allegations of financial misconduct. A subsequent internal investigation commissioned by Nissan's board confirmed financial misconduct by Ghosn and other senior executives, as well as longstanding deficiencies in Nissan's internal checks and balances and corporate governance framework. Litigation is currently ongoing.
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