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Materiality in criminal misrepresentation in securities filings

Jan. 2019

by Sadakazu Osaki

On December 10, 2018, Nissan Motor's former chairman Carlos Ghosn, another Nissan executive and Nissan itself were indicted for allegedly violating Japan's Financial Instruments and Exchange Act (FIEA) by filing Annual Securities Reports containing misrepresentations. With the media reporting conflicting accounts and the facts of the case yet to be spelled out in detail, it is too early to safely draw any conclusions about the allegations against Ghosn and his codefendants.

*Organization names and job titles are current as of the publishing dates

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Author's Profile

Sadakazu Osaki

Head of Research,
Center for Strategic Management and Innovation

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