FSL claims settlement fails

Much attention from small shareholders sued FSL (000541) Securities Misrepresentation liability dispute or difficult to good. Reporters recently got the news that the original settlement of both sides of the defendant has been talking about collapse, will enter the intensive trial stage in August. In an interview yesterday, FSL stakeholders said that the plaintiffs did not propose a settlement plan.

Broke the news that the settlement has collapsed

In July 9th this year, the first hearing of FSL and small shareholders disputes, both the original defendant lawyer for three hours of heated debate, contradictions mainly in four aspects: one is the market whether there is systemic risk, FSL shares fell if there is a direct relationship between the systemic risk; two is whether the information disclosure problem of FSL form false statement; three is the plaintiff, provide information on whether legal compliance; the four is how to determine the date of implementation of FSL related transactions.

The presiding judge said after the trial, the two sides to reconcile, the original defendant should be submitted to the court within 1 weeks of the settlement proposal. However, after the two sides did not reach a settlement, informed sources said the two sides talk about collapse". FSL is now dragging time, the fear is now reconciled, there will be more investors to claim. "A damaged investor is so.

The next August, the trial will be held intensive. "Small investors v. FSL Securities Misrepresentation liability dispute in March last year has been filed, has jurisdiction objection procedures, in July 9th of this year has had one court, but the plaintiff is not my agent, the August 25th court arranged dozens of investment agency, estimates that the court will batch sitting arrangements. "Guangdong director Ben Ben Liu Guohua law firm lawyers told reporters yesterday. At present, I have been acting more than 100 investors filed a lawsuit to the court, claims amount of more than twenty million, while some investors sued the material is also ready, the court will be submitted to the recent filing materials. He said.

It is understood that the court on the case of FSL filed a total of three batches, the total number of plaintiffs in the amount of up to $180 million, the claim amount of up to $1303, while the July 9th hearing is only the first batch of these three batches. Financial data show that in the first quarter of 2014, FSL net profit of 71 million 350 thousand yuan, while last year's total net profit of $250 million. This means that the amount of 180 million yuan claims will devour FSL's net profit for six months.

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