According to the statement of the Buddha progress 4 plaintiffs lawsuit was dismissed

Nanfang Daily, medium and small investors v. FSL Securities Misrepresentation liability dispute concern with new development, in June 15th, FSL released the "notice" on litigation matters progress, the company received the Guangzhou intermediate people's court delivered the "civil judgments", dismissed the 4 plaintiffs to misrepresentation liability disputes. On the grounds of the securities company filed a civil lawsuit. The results of the first batch of 60 million 410 thousand and 800 lawsuits filed with the results obtained by the 955 investors are very different.

The case dates back to 2010. Data show that FSL in 2010 and 2011 there are a number of illegal information disclosure, which is up to 15 companies affiliated company chairman Zhong Xincai son and other relatives of direct or indirect control, but FSL has not disclosed in the annual report.

In November 2012 the Commission to investigate, in March 6, 2013 the Commission issued the penalty decision on FSL; then, one after another around the thousands of investors in Securities Misrepresentation liability disputes by FSL began to claim.

In November last year, on suspicion of false statements, Guangzhou City Intermediate People's Court (hereinafter referred to as the Guangzhou intermediate people's court) decision FSL compensation for more than 900 investors accumulated nearly $60 million loss.

In November last year, the Guangzhou intermediate people's Court of first instance verdict, FSL appealed to the Guangdong high court. June 4th of this year, the Guangdong high court for the first batch of 955 cases of investor claims dismissed the appeal ruling, upheld the original verdict, FSL to the first batch of 955 investors to compensate $60 million 410 thousand and 800.

The results of this penalty is seen as a weathervane, the industry agreed that this means that the overall situation has been set FSL investor rights. Including the above 955 shareholders to obtain compensation, as of now, the total number of FSL Securities Misrepresentation case of the plaintiff amounted to 2749 people, the total amount of $385 million litigation.

After the first batch of investors after second, the third batch of cases has also been hearing loss in accordance with the situation of the first effective verdict, insiders expect all 2749 investors is expected to receive about 180 million yuan in compensation, hit the highest level in more than and 10 years period investors cash compensation litigation rights.

However, this forecast is 4 with the plaintiff's claim was dismissed and variable, the announcement was not revealed the specific reasons for litigation request is rejected, for the rest of the claims of investors will affect how it is not.

Although plagued by civil litigation, but as early as last year after the first case of the verdict came out, FSL on the loss of compensation, so the stock price did not cause too much impact. In the current round of A shares, FSL shares also eye-catching performance, and on Friday hit a record high.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).