United States ยท US Securities and Exchange Commission (settled action, final judgment in the US District Court for the Southern District of New York)
Carlos Ghosn: director ban
In force The final judgment bars him for ten years following its entry, which the court docket stamp shows as 26 December 2019. The end date is calculated from that start and length, the SEC did not state one.
Grounds
The SEC said Nissan's financial disclosures concealed more than 140 million dollars in compensation and retirement benefits for Ghosn. Ghosn settled without admitting or denying the allegations, agreeing to a 1 million dollar penalty and a 10 year officer and director bar.1,2,3
Companies
Nissan Motor Co., Ltd.
Record
- SEC announced settled charges against Nissan, Ghosn and Greg Kelly.1,2
- Final judgment against Ghosn filed and entered in the Southern District of New York.3
Sources
- US Securities and Exchange Commission, Press Release 2019-183, SEC charges Nissan, former CEO and former director with concealing compensation from investors (23 September 2019)
- US Securities and Exchange Commission, Litigation Release No. 24606, SEC Charges Nissan, Former CEO, and Former Director with Fraudulently Concealing from Investors More Than 140 Million Dollars (23 September 2019)
- US Securities and Exchange Commission, Final Judgment as to Defendant Carlos Ghosn, SEC v. Nissan Motor Co., Ltd. et al., 19-cv-08798 (SDNY) (26 December 2019)
A disqualification restricts acting as a company director for the period stated. It is a civil measure and is not a criminal conviction unless stated. How bans work.