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Nissan's Ghosn tells Tokyo court he is innocent
Stock Market News |
2019/01/08 15:08
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The former chairman of Japan's Nissan Motor Co. has told a Tokyo court that he was "wrongfully accused" of false financial reporting and other allegations.
In his first public appearance since he was detained on Nov. 19, Ghosn denied any wrongdoing and proclaimed his loyalty to the company. Explaining Ghosn's lengthy detention, the judge said he was considered a flight risk.
Prosecutors have charged Ghosn, who led a dramatic turnaround at the Japanese automaker over the past two decades, with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015.
They also say he is suspected of having Nissan temporarily take on his investment losses from the financial crisis.
The former chairman of Japan's Nissan Carlos Ghosn will assert his innocence in a Tokyo courtroom Tuesday, according to his prepared statement that addresses each of the allegations that led to his Nov. 19 arrest.
The statement, which was to be delivered by Ghosn at his hearing, was released to The Associated Press through a person close to Ghosn and his family. They shared the information on condition anonymity due to its confidential nature.
In the statement Ghosn said the investment losses he was being accused of stemmed from his having to be paid in yen and he had asked Nissan to temporarily take on the collateral, and the company suffered no losses. |
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Court orders mediation in Maryland desegregation case
Court Watch |
2019/01/06 15:24
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A federal appeals court has ordered a fourth attempt at mediation in a long-running dispute over the state of Maryland’s treatment of its historically black colleges.
The black colleges say the state has underfunded them while developing programs at traditionally white schools that directly compete with them and drain prospective students away.
In 2013, a judge found that the state had maintained an unconstitutional “dual and segregated education system.” The judge said the state allowed traditionally white schools to replicate programs at historically black institutions, thereby undermining the success of the black schools.
Despite three previous tries at mediation, the two sides have been unable to agree on a solution.
On Wednesday, a three-judge panel of the 4th U.S. Circuit Court of Appeals ordered Maryland’s higher education commission and the coalition to begin mediation again to try to settle the 12-year-old lawsuit.
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WVa AG's help sought in Supreme Court impeachment appeal
Securities Lawyers |
2019/01/04 15:24
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Three months after a ruling halted the impeachment process involving most of West Virginia's Supreme Court justices, the state Senate president is seeking a second opinion.
Senate President Mitch Carmichael said Friday at the annual Legislative Lookahead forum he's asked state Attorney General Patrick Morrisey to look into handling a possible appeal to the U.S. Supreme Court.
Carmichael, a Republican, is still steamed at a panel of state Supreme Court stand-ins that ruled impeachment efforts of the justices were a violation of the separation of powers doctrine. The process was officially derailed when the presiding judge didn't show up to Justice Margaret Workman's trial in the state Senate in light of the court's ruling blocking it.
"We believe it is totally, completely wrong," Carmichael said. The acting justices ruled the Senate lacked jurisdiction to pursue Workman's trial and later applied the decision to trials involving justices Robin Davis and Allen Loughry, who had petitioned the court to intervene.
Davis retired after the House approved impeachment charges against her. Loughry resigned after being convicted of felony fraud charges in federal court.
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Son of ex-Nissan head Carlos Ghosn predicts court surprises
Court News |
2019/01/03 15:29
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The son of former Nissan chairman Carlos Ghosn said in an interview published Sunday that people will be surprised when his father, detained since Nov. 19 for allegedly falsifying financial reports, recounts his version of events to a Tokyo court on Tuesday.
Anthony Ghosn, 24, told France's Journal du Dimanche that his father — who will remain detained until at least Jan. 11 — will get 10 minutes to talk at the hearing, being held at his own request.
"For the first time, he can talk about his version of the allegations against him," Anthony Ghosn said in the interview with the weekly paper Journal du Dimanche. "I think everyone will be rather surprised hearing his version of the story. Until now, we've only heard the accusers."
The son has no direct contact with his father, and gets information via lawyers. He said his father, who for decades was a revered figure in the global auto industry, has lost about 10 kilograms (22 pounds) eating three bowls of rice daily, but he reads books and "he resists."
Ghosn refuses to cave in, said his son, contending that he would be freed from detention if he admitted guilt to the prosecutor.
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High court to take new look at partisan electoral districts
Legal Focuses |
2019/01/03 15:29
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The Supreme Court is plunging back into the issue of whether electoral districts can be too partisan.
Disputes have arisen in cases involving North Carolina's heavily Republican congressional map and a Democratic congressional district in Maryland, and the justices said Friday they will hear arguments in March.
The high court could come out with the first limits on partisan politics in the drawing of electoral districts, but also could ultimately decide that federal judges have no role in trying to police political mapmaking.
The court took up the issue of partisan gerrymandering last term in cases from Wisconsin and the same Maryland district, but the justices failed to reach a decision on limiting political line-drawing for political gain.
Justice Anthony Kennedy had said he was open to limits. He has since retired, and Justice Brett Kavanaugh has taken Kennedy's seat. He has no judicial record on the issue.
The court again has taken one case in which Democrats are accused of unfairly limiting Republicans' political power and one in which Republicans are the alleged culprits. The court also has the entire North Carolina congressional map before it, but only the one Maryland district.
In both cases, however, lower courts have found that the party in charge of redistricting — Republicans in North Carolina, Democrats in Maryland — egregiously violated the rights of voters in the other party.
The North Carolina map was redrawn in 2016 because federal courts determined two districts originally drawn in 2011 were illegal because of excessive racial bias.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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The content contained on the web site has been prepared by Securities Law News as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. | Affordable Law Firm Website Design by Law Promo |
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