Since Foshan Lighting was punished by the Securities and Futures Commission for false statements, a number of investors have filed suit in court for damages. On the 9th, the reporter learned from the lawyer of Beijing Yingke Law Firm, Xiaoli Li, that the second batch of 33 Foshan Lighting Investor Claims Cases had been accepted by the Guangzhou Intermediate People's Court, with a claim amount of 3.793 million yuan. In addition, 35 investors who were first indicted in mid-April this year requested Foshan Lighting to pay up to 7.11 million. Yan Xiaoli said that there is still one and a half years left before the deadline for statute of limitations. It is expected that investors will continue to participate in the claim lawsuit.
On March 7 this year, Foshan Lighting, a listed company with the name of “cash cowsâ€, announced that it had received an administrative penalty decision issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission. The company’s decision on illegal disclosure of information disclosure was decided by the regulatory authorities. Administrative punishments for fines, warnings, etc. were imposed on Foshan Lighting, Chairman Zhong Xincai and six other senior executives.
Lawyer Xiaoli said that according to the Securities Law and the Supreme People's Court's Regulations on the Trial of Civil Compensation Cases Caused by False Statements in the Securities Market, Foshan Lighting has constituted a false statement, buying stocks before the date of the false statement implementation date. Investors who sell losses or continue to hold stocks after the false statement disclosure date may claim damages according to law, and may claim compensation for investor's investment balance, commission stamp tax loss and corresponding interest loss.
According to the Securities Law and the judicial interpretation of the Supreme Court, listed companies and responsible persons shall bear civil liability for losses caused by false statements to investors. The investor claims that the time limit for the action of civil compensation is two years, counting from the date on which the CSRC or its dispatched office announces the decision to impose a penalty on the false statement. In the case of Foshan Lighting, the claim for the stockholders began on the day when the Foshan Lighting Announcement received the penalty decision from the Guangdong Regulatory Authority on March 7th, and the statute of limitations expired on July 3, 2015.
The reporter learned from a number of lawyers who represented Foshan Lighting Rights Protection. It is conservatively estimated that the number of claimants who have been sued for trial by the court has far exceeded 500. In the future, investors will join the lawsuit. Foshan Lighting has It may become one of the cases with the largest number of rights defenders in the history of Chinese investor rights protection.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
On March 7 this year, Foshan Lighting, a listed company with the name of “cash cowsâ€, announced that it had received an administrative penalty decision issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission. The company’s decision on illegal disclosure of information disclosure was decided by the regulatory authorities. Administrative punishments for fines, warnings, etc. were imposed on Foshan Lighting, Chairman Zhong Xincai and six other senior executives.
Lawyer Xiaoli said that according to the Securities Law and the Supreme People's Court's Regulations on the Trial of Civil Compensation Cases Caused by False Statements in the Securities Market, Foshan Lighting has constituted a false statement, buying stocks before the date of the false statement implementation date. Investors who sell losses or continue to hold stocks after the false statement disclosure date may claim damages according to law, and may claim compensation for investor's investment balance, commission stamp tax loss and corresponding interest loss.
According to the Securities Law and the judicial interpretation of the Supreme Court, listed companies and responsible persons shall bear civil liability for losses caused by false statements to investors. The investor claims that the time limit for the action of civil compensation is two years, counting from the date on which the CSRC or its dispatched office announces the decision to impose a penalty on the false statement. In the case of Foshan Lighting, the claim for the stockholders began on the day when the Foshan Lighting Announcement received the penalty decision from the Guangdong Regulatory Authority on March 7th, and the statute of limitations expired on July 3, 2015.
The reporter learned from a number of lawyers who represented Foshan Lighting Rights Protection. It is conservatively estimated that the number of claimants who have been sued for trial by the court has far exceeded 500. In the future, investors will join the lawsuit. Foshan Lighting has It may become one of the cases with the largest number of rights defenders in the history of Chinese investor rights protection.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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