China Wuliangye Group is investigating the stock market decline
September 9 after the morning market close, Wuliangye an emergency announcement by the SFC to investigate the matter. 1 pm opening, stock prices sharply diving, limit down after half an hour later with the broader market stabilized, Zhong Pan decline narrowed to 6.22%, decline in top ranked cities. This is from the SFC began July 28 began the investigation surfaced.
According to statistics, 174 million shares held by Wuliangye nine institutions, the date of total loss of about 230 million yuan. Small individual investors how much they lost?
The afternoon of September 23, the Commission held a meeting to inform of the Wuliangye the stage of the investigation, saying there have been found Wuliangye failure to require the disclosure of a major securities investment behavior and higher investment losses, did not truthfully disclose the major securities investment losses, the disclosure of the main existence of errors in the data business revenues and other illegal violations.
The current focus of attention of all parties continue to focus on the SFC’s investigation process and the possible arrival of the specific content of the administrative penalty, the major brokerages are also hot discussion “contrarian bullish.” For small investors, as compared with the SFC’s administrative punishment, punishment could be followed by the large compensation suits closer to their vital interests, cause for concern.
Since China can not engage in a group litigation, the Court accepts only individual actions and joint actions, which require the victim must go to court before the expiration of the limitation placed on file. Beijing Yang Zhao, director of the whole law firm reminded that, the SFC has not closed prior to the investigation carried out on the Wuliangye notification, which indicates that the SFC has mastered sufficient evidence, the punishment appears to be difficult to avoid, so investors can make early preparations.
What investors can claim it? In accordance with relevant laws and false statements from the date of purchase of the shares of listed companies subject to investigation the day before the announcement is still holding the stock investor, you can claim compensation. SFC’s punishment will be pointed out that the listed companies to file a false statement date.
”Wuliangye investigation was announced after the stock fell by a big margin. If the cases are successful, selling or later in the day were sold, can be compensated.” Yang Zhao-chuen, said.
Investors to safeguard their rights, providing a relatively simple document, mainly shareholders, account card, ID card copy, Wuliangye stock trading statements. Involving false statements in securities litigation, difficulties in the process of filing and hearing of evidence on issues such as rules and finds that, investors can consider contact lawyers to be more fully prepared to safeguard their own interests.
Related posts: