FSL rights case second trial attorney thronged the plaintiff

More than twenty lawyers are full of the rights of the plaintiff seats, lawyers did not hire investors for their own debate, the defendant accused the defendant in court. This is a true portrayal of the case on Monday in the Guangzhou intermediate people's Court of FSL false statement rights cases. It is reported that this is the second case of a formal hearing, but also the largest one trial, a total of 476 investors have been prosecuted. As a reporter in the whole process of the trial court found that experience, constantly exciting, even once the outbreak of laughter and applause.

FSL's largest trial

In March 6, 2013, FSL announced that China received the Commission of Guangdong authority administrative penalty decision, the company and the relevant executives by the Commission of Guangdong authority made a fine of 400 thousand yuan of administrative punishment for illegal information disclosure. Punishment book shows the company's illegal facts involving false statements are 2010, 2011 periodic report, interim report illegal disclosure of information, including related company loans, guarantee not to disclose related party transactions, two years more than 100 million yuan were not disclosed in accordance with the law.

With the Commission's decision to punish the release, FSL claims false statement began to spread throughout the country. According to the company disclosed in 2014 on the rights of the case of the announcement, the country has 1303 investors filed a lawsuit to the court, the amount of more than 180 million yuan claims. Reporters learned from a number of well-known securities activist lawyers, in fact, the number of investors sued, but also more than the company announcement. Because the company disclosed that the court has received feedback on the case, as well as more investors are on the way to sue, or prosecution information is not fed back to the company. A lawyer told reporters.

After a long dispute over the jurisdiction of the dispute and the court waiting period, investors finally ushered in the first case in July 9, 2014 trial. The first session of the trial of the case, a total of two plaintiffs lawyers attended the trial, the agent was 515 investors, claims amount of more than 70 million. After the trial, has not been released. After more than a month later this Monday, the case finally ushered in the second trial. The trial of more than twenty lawyers acting on the prosecution of the 476 investors.

More than twenty lawyers thronged the plaintiff

Although the first session of the trial, the second trial was the number and amount of agents are relatively small, but the scale of the hearing is even more huge. From Shanghai, Beijing, Hangzhou, Guangzhou, Shenzhen, Hebei and other places more than twenty lawyers, a gathering of many people crowded, not only by the plaintiff seats with one of the third largest Guangzhou intermediate court court, investors several lawyers and several witnessed the trial to defend himself, can only choose to sit in the gallery audience to participate in the trial. The plaintiff a large number of seats, the relevant staff of the court before the preparation also spent a lot of time, originally scheduled for the trial began at 9:00 am until 9:30 officially began.

An activist lawyer told reporters that such a trial situation is very rare. Common civil cases is difficult to see such a large plaintiff lawyers, years of securities rights cases is also very difficult to like the FSL case, the basic assembly of all domestic well-known securities lawyer, is almost a "grand".

In addition, to come to the trial there are many investors and the media, they pay close attention to the progress of the case as the next listener.

Compared to the first trial of both chunqiangshezhan, argued the case related legal issues, the second trial as the number of large, full of interesting tidbits. In the course of the trial, the two burst of laughter filled the court, as well as a lawyer and an activist investor's speech drew applause from the audience, the trial judge stressed the court discipline.

While the relative first trial of FSL, the attorney's strong attitude, second times the trial, both the original defendant less tense atmosphere in sharp. The two lawyers and even pay for details in check when joking, causing the crowd laughter.

FSL still does not bear responsibility and reconciliation

Yesterday's hearing, the original defendant on both sides of the debate around the focus of debate: first, whether the defendant constitutes a false statement of securities; two, the plaintiff's loss and the defendant's false statements constitute a causal relationship between the three? Three, if the defendant constitutes a false statement, whether there is a systemic risk, the need to deduct the system risk and industry risk, the company operating risks and other factors?

Consistent with the size of the first trial, FSL lawyers still insist that the company does not constitute a false statement of the securities market, without liability. The reason is that the company does not constitute a violation of the relevant laws and regulations, major events, only related party transactions. Its attorney also said that even if the company is a false statement, and its behavior is no causal relationship with the loss of investors. It believes that the risk of the system is the only reason for the loss of investors, the European debt crisis, China's economic crisis, industry risk, the company's fundamentals are the reasons for the stock price down.

In this regard, one of the plaintiffs attorney, Guangdong director Ben Ben Liu Guohua law firm lawyers said that if China constitutes a false statement, the Commission of Guangdong authority (1) 2013 books have been given the decision on administrative punishment. According to the law, the plaintiff's loss and the defendant's false statement constitute a causal relationship, the defendant should be liable for damages. The defendant will FSL