Crime & Justice

Foreign investors file lawsuit against Nissan over Ghosn case: report

Tokyo, May 27 (EFE).- Dozens of foreign investors have filed a lawsuit against Nissan Motor seeking damages for financial losses as a result of the financial misconduct case against the company’s former chairman Carlos Ghosn, according to a report.

The lawsuit chased by around 90 institutional investors in the United Kingdom, Germany and the United States, among others, has been filed in Japanese courts and demands 34.4 billion yen ($315 million) in compensation from the automaker, local news agency Kyodo reported on Thursday.

The plaintiffs demand the compensation for losses suffered due to Nissan shares falling in the wake of the November 2018 arrest of Ghosn and another senior executive of the company, Greg Kelly, in connection with the alleged underreporting of the former chairman’s remuneration over multiple years.

Prosecutors have also indicted Nissan for filing false financial statements.

Nissan has yet to comment on the new lawsuit filed against it by the institutional investors, who allege that Nissan could have forecast a stock prices drop due to damaged trust in the company if the incident was reported by news media, Kyodo reported.

While out on bail, Ghosn fled Japan at the end of 2019, just months before his trial was to begin, and has been living in Lebanon since.

He claims he is innocent of everything he is accused of, attributes his arrest in Tokyo to infighting at Nissan, and has said he fled to escape a “rigged” Japanese justice system.

Ghosn, who has a triple nationality (French, Brazilian, and Lebanese), is also being investigated by French authorities.

Meanwhile, Kelly is currently on trial in Tokyo for allegedly helping Ghosn hide his compensation, as are two US citizens accused of facilitating Ghosn’s flight from Japan to Lebanon. EFE

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