More than a thousand investors Qi lawsuit according to the letter Phi violation case claims up to 180 million

Reporters learned on May 29th, FSL Securities Misrepresentation liability dispute case recently identified the date of the hearing, the case will be held on July 9th in Guangzhou City Intermediate People's court hearing. This is a lawsuit involving a group of more than a thousand investors, the number of investors involved in the number of lawsuits, rare in recent years. At the end of April, the company sued the number up to 1303 people, the claim amount up to 180 million yuan.

Related party transactions undisclosed

March 7, 2013, FSL disclosed the administrative penalty decision issued by the Guangdong Securities Regulatory Bureau notice. The decision that Foshan knoch California Electric Appliance Co. Ltd., Foshan Hong Bang Electric Lighting Co. Ltd. and other 15 companies are FSL when he was chairman and general manager of Zhong Xincai's son and other relatives of direct or indirect control, is associated with FSL. But since 2010, FSL to conceal the above Association, while in the event of the transaction with the relevant party exceeded the disclosure standards without the board of directors considered, not as well as when the announcement, in violation of the relevant securities laws and regulations.

To this end, regulators ordered FSL to correct, given a warning and imposed a fine of 400 thousand yuan, the chairman and general manager Zhong Xincai, deputy general manager and the board of directors of the 6 executive secretary Zou Jianping given a warning, and 4 of them were sentenced to 30 thousand to 150 thousand yuan is not so fine.

The investigation, related transactions occurred in July 15, 2010 after FSL, July 6, 2012, FSL announced the two Guangdong Securities Regulatory Bureau administrative regulatory measures decision, which reveals FSL and 4 associated companies related transaction problems. November 5th, on suspicion of illegal disclosure of information by the Guangdong Securities Regulatory Bureau investigation.

By March 2013, when the disclosure of the administrative penalty decision of the Guangdong securities regulatory bureau, involving the company has expanded from 4 to a total of 15.

Meet time conditions can be compensated

Shanghai City, Oriental Cambridge Securities Law Firm lawyer Wu Lijun told reporters that the false statement of the listed companies is a kind of tort, according to the relevant laws and regulations, the burden of proof is the obligation of the listed company, as long as the false statement behavior exists, and caused the loss of investors, can be a causal relationship between the two presumption.

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