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Nissan wants $91m in damages from former chairman

Video Credit: Reuters Studio - Duration: 01:27s - Published < > Embed
Nissan wants $91m in damages from former chairman

Nissan wants $91m in damages from former chairman

Nissan Motor Co on Wednesday said it had filed a civil suit in Japan against former Chairman Carlos Ghosn seeking $91 million in damages over his alleged financial misconduct.

Matt Larotonda reports

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Nissan wants $91m in damages from former chairman

Nissan has revved up its action against Carlos Ghosn, hitting him with a civil lawsuit on Wednesday (February 12) and seeking $91 million dollars in damages over his alleged financial misconduct.

Now the firm says the figure may increase if it looks to recoup any fines levied by regulators relating to Ghosn's alleged misconduct.

Its former boss in December fled Japan, where he was facing criminal charges, which included the misuse of company funds.

He's since been hunkered down in his childhood home of Lebanon.

Ghosn denies any wrongdoing, but may face separate legal action over what Nissan called "groundless and defamatory" remarks made in a news conference in Beirut last month.

Any extra money could be pretty timely for the firm.

Sources familiar with Nissan said it might report its first quarterly loss in more than a decade on Thursday (February 13) because of slumping sales.

The ousting of Ghosn has led to a period of rebuilding for Japan's number 2 automaker, with disruption caused by China's coronavirus outbreak also possibly dragging profits lower.

One Reuters sources said Thursday's figures would be "dismal." That after figures out last month showed third quarter sales were down 11% on the year.

Nissan had no comment ahead of its official announcement.



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