Since 2019, superintend ceaseless hasten to father, finance affairs is involved not less to build holiday or letter to wrap around before this violate of compasses appear on the market the punishment that the company got superintend a branch, the investor of 2 class market people also begin to be opposite these appearing on the market the company initiated claim for compensation civil suit, what a lot of lawsuit undertake is relatively successful, got forensic support, but *ST is numerous the request of claim for compensation of the investor that amounts to with Ji Shenglai, was not supported by forensic place, instead out of court, what element is this cause?
The letter wraps around violate compasses, superintendency branch moves
Late on April 18, 2019, the Fujian that we once had paid close attention to before this is numerous with Inc. (negotiable securities abbreviation: *ST is numerous and, negotiable securities code: 002070.SZ) announced first " about getting book of < civil ruling > the announcement that wait " . Main content is the legal litigation that the dispute of company and investor of 2 class market causes.
Investor and *ST are numerous with what hit a lawsuit basically be, on May 28, 2018, *ST is numerous and receive Chinese negotiable securities to supervise superintendency bureau of administrative committee Fujian (the following abbreviation " bureau of Fujian card inspect " ) " administrative punishment decides a book " ([2018] 1) , bureau of Fujian card inspect is numerous to *ST and hold the post of relevant responsibility person in time to was mixed 2016 about information exposure broke the law 2017 violate compasses behavior to make administrative punishment. *ST is numerous mixed investor is suspected of negotiable securities with the company accordingly false statement initiated lawsuit to request to the company for liability issue.
Not come singly but in pairs, additionally one appears on the market Lai of emperor of company peaceful wave amounts to electric equipment Inc. (negotiable securities abbreviation: Shenglaida, negotiable securities code: 002473.SZ) also announced on April 18 first " about getting book of < civil ruling > the announcement that wait " . Also be to concern a company to receive likewise " civil ruling book " relevant announcement, main content is on May 11, 2018, holy Lai amounts to a company to be supervised to administer committee administration punishment by Chinese negotiable securities, many investor have legal suit to Shenglaidadi accordingly, seek redress loss.
Our restrospect to in May 2018, will simply see these two appear on the market why is company predestined relationship punished.
On May 28, 2018, superintendency bureau of Fujian of committee of supervisory management of Chinese negotiable securities is numerous to *ST and allotted " administrative punishment decides a book " , via finding out, company illegal fact includes 2016, regular report accumulated the share in false account 2017, involve empty to increase profit; Fail pay off expires gross debt; Main asset is closed down; Conclude the important contract that transfers subsidiary equity; Company president Xu Jiancheng is adopted by the judiciary coercive measures a lot of break the law violate compasses item.
Shenglaida also increased profit because of making over business empty before this through copyright of dummy movie and TV in May 2018, and copyright of movie and TV is made over involve violate compasses those who received card inspect to be able to be issued " administrative punishment decides a book " .
End at present, these two appear on the market the numerous investor of the company initiated lawsuit of civil claim for compensation to its, from " administrative punishment decides a book " on look, two appear on the market the company breaks the law it is clear to violate the fact of compasses, but the litigant progress of the investor that sues them is not great, what element causes this again?
Civil claim for compensation encounters difficult problem
According to Shenglaida the company announces " civil judgment book " relevant announcement shows, investor says to be based on the reliance that discloses information to Shenglaida, bought Shenglaida's share, dan Shenglai amounts to existence letter to wrap around break the law violate compasses clue, was met by card inspect on May 11, 2018 administrative punishment, this investor loss fastens Shenglaida to break the law violate compasses cause, and this loss also is this investor the stock place that before disclosing, buys is handled to arise to branch be superintendencied after false statement carries out Shenglaida.
But, court of intermediate people of peaceful wave city thinks, the investment loss of this investor and Shenglaida are stated phonily do not have between behavior causal, its lawsuit requests to lack fact and legal basis, rejected its lawsuit request.
Shenglaida violates compasses clue to be clear about, condemnatory date and false information are disclosed date is very specific, does the court think to do not have however causal? Is this appropriate?
*ST is numerous have a bit with the circumstance different, show in the announcement that announced on April 18, 2019, fuzhou quadrangle comprised collegiate bench to undertake cognizance to the case lawfully, case first instance has been tried terminative. Fuzhou quadrangle rejects the prosecution of accuser; The case that already accepted beforehand accepts cost sum to return.
The first instance before we should review this accordingly adjudicates. In first instance court decision about *ST numerous with liability to pay compensation maintain appeared to compare big question, according to net of juridical copy clerk fair the civil ruling book related shown share and this case, the court affirms *ST is numerous with the company foregoing is suspected of that believe wrap around break the law violate compasses act, had formed security market to be stated phonily. But when cognizance investor loss, in needing to always investing a loss, discern and deduct the loss that systematization risk place causes. And field of A stock market is in 2016 - happened during 2018 considerably concussion, grail index rises to fall greatly greatly, the systematization risk of the market is influence stock price considerably the important and objective element of concussion, need to deduct. Amount of afore-mentioned losing of false statement be caused by reach specific calculation method, belong to professional issue of very strong illegal keep under control, the guidance that ought to supervise management department in negotiable securities is supervised under, by relevant major orgnaization go ahead of the rest is made maintain and essence of life calculates, order of the buy before answering to serve as what the case accepts with this. Because this Fuzhou quadrangle is rejected,sue, investor can wait for relevant and professional orgnaization to be made to the loss after maintaining, sue all right again. Fuzhou quadrangle is told relative to peaceful wave quadrangle, shifted responsibility investor to want from disease loss above.
These two lawsuit all are opposite in intermediate court of the case causal maintain and the problem exists on indemnity, but the case of investor success claim for compensation is medium recently, is other square courts encounter case of shareholder claim for compensation how maintain?
A bubbling with noise Dalian great good fortune that make accuses an Inc. (negotiable securities code: 600747.SH, negotiable securities abbreviation " ST accuses greatly " ) 2 careful adjudicate case of shareholder claim for compensation finally, the circumstance that the shareholder wins the lawsuit.
On April 11, 2019, ST accused to announce greatly about in small investor complains progress announcement, the ST before this accuses to accuse in the light of 15 natural people ST accuses negotiable securities to state liability issue phonily greatly greatly one case appeal saves senior people court to Liaoning. Litigant origin is, on December 2, 2016, ST accused to receive the deadline that hands in place to issue to rectify and reform working case greatly, the ST in working case accuses existence to violate greatly compasses assure not seasonable exposure, great recombine item to stay the announcement of progress of not seasonable exposure case inside card period, on June 28, 2017, ST accuses to get Chinese card watch greatly meeting Dalian superintendency bureau is instructed correct superintendency measure decision, the requirement is violated to controlling a partner to the company compasses assure reach the circumstance that accuses a partner correlation loan to did not make public exposure to undertake rectifying and reform.
Liaoning saves the supreme court to be tried to this case at the near future terminative. The court thinks: The security market that appellant ST dominates to be put in false account greatly states action phonily; This case states executive day phonily by corrected on May 16, 2014 for on May 21, 2014, false statement discloses day to be on December 2, 2016, state fiducial day to be phonily on June 30, 2017; Appellee investment loss and appellant state action phonily existence is causal. The court thinks ST accuses appeal to request to cannot hold water greatly, should grant to reject; Although cognizance fact of first instance court decision and comfortable use statute are imperfect, but adjudicative result is accurate, should grant to maintain. ST accuses to need to compensate for amount of investor of 15 natural people greatly aggregate RMB eight million three hundred and twenty-six thousand six hundred yuan.
Detailed content reads the report that inquires through net of juridical copy clerk, between the loss that about experience case false statement and request recoup causal, liaoning saves tall courtyard explanation to be, the negotiable securities information in security market announces obligor to disobey negotiable securities law to set, be issued in negotiable securities or trade in the process, make sex of the false account that violates nitty-gritty, misdirect state to major event, perhaps happen when disclosing information great omit, the behavior of shocking exposure information, cause security market investor to suffer a loss, should assume corresponding responsibility lawfully. Great good fortune accuses did not announce major event by the regulation, carried out negotiable securities to state action phonily, have between this behavior and the loss that ask compensation direct causal.
Because this is peaceful the case of wave quadrangle and this case are parallel, a lot of detail were not considered by the court, whether is this put in the problem?
In the judgment that accuses greatly in ST, about investor can the amount of claim for compensation, also made clear explanation, specific calculation method is, investor buys negotiable securities to average price discloses day to be in or correct before day with every time average price and quantitative computation give totle drilling cost of investor average share, subtractive investor during this all already sold be derailed ticket to call in the remaining sum of capital, divide with investor still hold share amount, besides, even subtractive the risk of investment market systematization of 50% .
Liaoning saves tall courtyard to explain in judgment, use at computational investor to invest balance losing method at present a variety of, the computational method that first instance adjudicates to place is used is accorded with " a certain number of regulations " affirmatory principle, opposite fairness is reasonable as a result, be helpful for protecting the interest of most investor, freedom of courtyard of the civil code that belong to a person reduces an amount in limits, the computational method that first instance adjudicates to place is used also is in recent years the computational method that court of and other places of Beijing, Shanghai uses generally.
Because this ST is numerous the amount with investor claim for compensation, the court decision of Fuzhou quadrangle may have the place of a lot of misgivings, the hope buys ST numerous be with the investor of the stock in follow-up appeal is OK it is with this exemple undertake a:appellant.
ST is numerous to its with the shareholder that reachs Shenglaida claim for compensation encountered many difficulty, this shows average investor sueing appear on the market when the company, still put in not little difficulty. How is the loss that buys stock of experience trouble company to receive about investor calculated? How does investment loss undertake quote dependency? this pair of average investor, still be a major spend taller difficult problem.
Cast take a center final whether appear personally?
The administrative day drive as market of certificate of superintendency branch verify is strict, to in the protection of small investor, also strengthening ceaselessly. In in card small investor service center (the following abbreviation " cast take a center " ) the act of the near future again and again.
The *ST that had we reported before this firm the relevant report that amount to " " the two battle that amount to " can you deny pull a letter to amount to negotiable securities to be immersed in lair? " in, face *ST firm below the circumstance that amounts to collectivity of board of directors of layer of president, management to break couplet, *ST firm amount to company processing to break down, the enterprise is close to retreating city. Cast took a center to make a large number of works.
After Dong Jian expensive personnel breaks couplet, *ST firm amount to be faced with 2018 annals cannot of seasonable audit, exposure violate compasses venture. Cast take center and *ST firm amount to other the partner that manages a 90 day above gets in touch. Cast take a center to regard as " hold 100 " partner, decide finally with *ST firm the asset of Cang Yiyi of the 2nd big thing that amount to manages limited company, the 3rd large stockholder Ni Gan implements a power plan jointly. On March 14 temporarily shareholder plenary meeting is held smoothly, the *ST on the meeting firm the partner that amount to was passed those who unmake company former board of directors is relevant and second reading, reorganization successfully board of directors, the *ST that invites deep-set anarchy firm the processing that amounts to a company gets resumptive certainly.
Return the Fuzhou City that we mention before this intermediate people court is in " civil judgment book " in what mention, the guidance that states amount of losing of be caused by and specific calculation method to ought to supervise management department in negotiable securities phonily is supervised under, by relevant major orgnaization go ahead of the rest is made maintain and essence of life calculates, in light of the description of order of the buy before answering to serve as what the case accepts with this, cast the website that takes a center to went up to had introduced, cast in taking a center to be able to be, own thought authority offers small investor law, information, technology serves.
And cast take a center self-invited contained the dimension authority service of small investor in facing, cast before this take a center to had collected negotiable securities publicly also many cases to support lawsuit, *ST is numerous the legal blind area that amounts to current damage investor to if oneself presence is constant,face a court with Ji Shenglai, need legal help and technical service, can cast the help that takes a center with seek.
We hope to superintend a branch besides strengthening information exposure to add up to compasses sex respect to want to retain consistent way, whether a few solid and effective program are offerred on problem of follow-up claim for compensation, in greater protection small investor.
Current, the letter that Shenglaida involves wraps around break the law violate plan lawsuit to still have 43 have not careful knot, ST is numerous wrap around with the letter violate compasses in the relevant lawsuit that involves, already 199 accuser mentioned to appeal. We also will pay close attention to the progress of relevant lawsuit continuously, update the report of relevant lawsuit in time.
