100 thousand yuan on the ground or by the first group of investors claim litigation

As the "LED lighting first" KingSun recently described as troubled. At the beginning of February, the Guangdong provincial science and technology department and former director Li Xinghua bribery case in Shenzhen intermediate people's court verdicts, which pull the KingSun actual controller, the former chairman Li Xuliang bribery 500 yuan fact. In March, KingSun for failing to disclose the company's largest shareholder Dongguan KingSun Group Limited company of transaction of non operating funds, Guangdong Securities Regulatory Bureau issued the "administrative punishment decision".

Then in late March, investors will have to Guangzhou City Intermediate People's court proceedings, request compensation for misrepresentation KingSun cause losses to investors. According to investors attorney Xu Feng said, recently, the Guangzhou intermediate people's court has formally accepted the investor's claim. The subject of the first batch of investors of about 100 thousand yuan, followed by follow-up batches, on behalf of investors filed a claim to the listed company. "

KingSun incorrigible a year even received two tickets

The evening of March 17, 2015, KingSun Guangdong Bureau received the "decision of administrative punishment". After investigation, the presence of non operating capital transactions in 2013, 2014, and the first major shareholder of Dongguan KingSun Group Co. Ltd., the cumulative amount of up to 1 billion 820 million yuan, the company for the matters not to fulfill the obligation of information disclosure.

Announcements, 2013 2014, the company accumulated to KingSun group transferred 1 billion 820 million yuan of funds, KingSun group accumulated 1 billion 30 million yuan of funds transferred to the company, KingSun group through subordinate enterprises accumulated to the company transfer of funds of about 800 million yuan. As of the end of 2014, the ground between the company and the group of non operating funds with zero balance. The other KingSun group has the non operating capital transactions to the company to pay 28 million yuan of interest.

However, KingSun for these matters were not fulfilling the obligation of information disclosure. Based on this, the Guangdong securities regulatory bureau decided to impose a fine of 500 thousand yuan to the company, and impose a fine of $300 thousand - $3 penalty.

Surprisingly, this is the second ticket KingSun received. In May last year, KingSun also by letter Phi violation by the Commission fined 400 thousand. The Commission finds KingSun three violations of information disclosure, including the failure to disclose the association and related transactions, not to disclose the company's second largest customer, 2009 domestic Clarification Announcement, denied the existence of relationship with Shang optoelectronics.

Market analysts, KingSun in just one year even received two tickets, that regulatory authorities to crack down on the problem of information disclosure of listed company's attitude. Investors should also actively safeguard their rights and interests, as far as possible to restore the loss caused by false statements of listed companies.

Eligible investors may lodge claims

Public data shows, December 1, 2014, KingSun closed at 14.43 yuan / share. That night, the company announced an investigation. Since then, the stock all the way down. January 12, 2015, the share price of 11.38 yuan, the cumulative decline of more than 20%, investors suffered heavy losses.

Many investors have said, KingSun disappointed. The company's awareness of information disclosure is too bad, even within a year by the Commission punished two times, seriously damaged their interests, should allow the company to compensate the loss of the majority of shareholders.

"Because KingSun was fined two times, as long as it meets any of the conditions, investors can claim. Shanghai Huarong law firm Xu Feng lawyers said. "Specifically, between January 1, 2013 and December 2, 2014 to buy KingSun stock, and after December 2, 2014 to sell the stock or continue to hold the stock investors have suffered losses; or in March 26, 2013 before buying KingSun stock, and after March 26, 2013 to sell the stock or continue to hold the stock investors have suffered losses, may claim KingSun caused investors to compensate for the false statement the behavior of loss. "

The day before, the court has formally accepted the investor prosecution materials, the follow-up there will be more investors to join the claims team. The lawyer also said.

It is worth noting that, under the jurisdiction of the court KingSun misrepresentation case in Guangzhou City Intermediate People's court, the court verdict last November listed company FSL (15.05 -1.44%, 900 compensation consulting) investors about 60000000 yuan. April 9th, the trial of the case in the Guangdong Provincial Higher People's court hearing.

The industry believes that the FSL case or to investors KingSun claims have a certain impact, but KingSun and fined two times, few investors damaged. With FSL's lesson, I believe there will be more investors through judicial means to protect their own interests, or will KingSun like FSL is facing the fate of investors claim.

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