A paper "Administrative Punishment Decision" issued by the Guangdong Securities Regulatory Bureau recently exposed Foshan Lighting's many illegal and illegal actions in the information disclosure in the past years. In this regard, some lawyers said that Foshan lighting related activities have involved false statements, and investors who meet certain conditions can defend their rights through legal means.
It was found by the regulatory authorities that Foshan Lighting had repeatedly violated the relevant provisions on information disclosure of listed companies during 2010 and 2011, and did not disclose major guarantees in accordance with the relevant periodic reports and temporary announcements, and did not truthfully disclose joint investment with related parties. Acquisitions, failure to disclose in a timely manner, provision of borrowings to related parties, etc. Based on this, the Guangdong Securities Regulatory Bureau gave warnings and fines to Foshan Lighting and related parties.
Wang Zhibin, a well-known human rights lawyer, pointed out that once a company becomes a public company, it must also undertake strict information disclosure obligations while obtaining social financing. However, in the case that a listed company cannot properly and voluntarily perform its obligations, except for the supervision department In addition to the administrative penalties of related companies, investors can also protect their rights and interests through civil claims.
According to lawyer Wang Zhibin, after the administrative department imposed administrative penalties, the civil litigation conditions related to Foshan Lighting were available, but not any investor could file a claim with Foshan Lighting. “After our analysis, there are investors who have bought Foshan Lighting stocks from July 15, 2010 to July 5, 2012, and have not completely sold them during this period. They can make claims. There are already some investors. Contact us to prepare for the legal rights process."
It was found by the regulatory authorities that Foshan Lighting had repeatedly violated the relevant provisions on information disclosure of listed companies during 2010 and 2011, and did not disclose major guarantees in accordance with the relevant periodic reports and temporary announcements, and did not truthfully disclose joint investment with related parties. Acquisitions, failure to disclose in a timely manner, provision of borrowings to related parties, etc. Based on this, the Guangdong Securities Regulatory Bureau gave warnings and fines to Foshan Lighting and related parties.
Wang Zhibin, a well-known human rights lawyer, pointed out that once a company becomes a public company, it must also undertake strict information disclosure obligations while obtaining social financing. However, in the case that a listed company cannot properly and voluntarily perform its obligations, except for the supervision department In addition to the administrative penalties of related companies, investors can also protect their rights and interests through civil claims.
According to lawyer Wang Zhibin, after the administrative department imposed administrative penalties, the civil litigation conditions related to Foshan Lighting were available, but not any investor could file a claim with Foshan Lighting. “After our analysis, there are investors who have bought Foshan Lighting stocks from July 15, 2010 to July 5, 2012, and have not completely sold them during this period. They can make claims. There are already some investors. Contact us to prepare for the legal rights process."
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