SANTA ANA, Calif. (AP) - The Latest on a jury awarding more than $256 million in a lawsuit against Nissan (all times local):
3:15 p.m.
Nissan says it will appeal a jury’s award of more than $256 million to a California auto dealer who claimed the company put him out of business during the recession.
The Orange County panel ruled Monday in favor of Michael Kahn, who owned seven Nissan and other dealerships in the Los Angeles and San Francisco Bay areas.
When the recession hit in 2008, car sales plunged. Dealers around the country couldn’t make loan and car-sales payments to car companies.
Kahn claimed Nissan’s financing arm had promised to keep his businesses afloat through 2009 but had a “secret plan” to foreclose after stripping him of assets, including his home.
Nissan earlier sued Kahn for breach-of-loan guarantees and was awarded $40 million.
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