Foshan Lighting 180 million claims in July 9th in Guangzhou

It is reported that Foshan Lighting (000541) securities false statement liability dispute case has recently confirmed the date of the trial, the case will be heard in the Guangzhou Intermediate People's Court on July 9. This is a group lawsuit involving more than a thousand shareholders. The number of shareholders participating in group litigation is rare in recent years. As of the end of April, the number of people suing the company reached 1,303, and the amount claimed was as high as 180 million yuan.

Related transactions with 15 companies were not disclosed

On March 7, 2013, Foshan Lighting disclosed the announcement of the administrative penalty decision issued by the Guangdong Securities Regulatory Bureau. According to the decision book, 15 companies including Foshan Schnoch California Electric Co., Ltd. and Foshan Shengbang Electric Lighting Co., Ltd. were directly or indirectly controlled by the relatives of the chairman and general manager of Foshan Lighting, Zhong Xincai, and were Foshan Lighting. Related party. However, since 2010, Foshan Lighting has concealed the above-mentioned related relationship, and at the same time, in the case of transactions with related parties exceeding the disclosure standards, it has not been reviewed by the board of directors and has not been announced in time, violating relevant securities regulations.

To this end, the regulatory authorities ordered Foshan Lighting to correct, give warnings, and imposed a fine of 400,000 yuan, warning the six senior executives of the then chairman and general manager Zhong Xincai, then deputy general manager and board secretary Zou Jianping, and Four of them were fined between 30,000 and 150,000 yuan.

After investigation, the related related transactions of Foshan Lighting occurred around July 15, 2010. On July 6, 2012, Foshan Lighting announced two decisions of administrative supervision measures of Guangdong Securities Regulatory Bureau, which revealed Foshan Lighting and 4 The issue of affiliated companies conducting related party transactions. On November 5, Foshan Lighting was investigated by the Guangdong Securities Regulatory Bureau for alleged violations of information disclosure.

By March 2013, when Foshan Lighting disclosed the administrative penalty decision of the Guangdong Securities Regulatory Bureau, the number of related companies involved had expanded from four to 15.

As long as the time conditions are met, compensation will be awarded

Wu Lijun, a securities rights lawyer at Shanghai Oriental Cambridge Law Firm, told the Beijing News that the false statement of a listed company is an infringement. According to relevant laws and regulations, the burden of proof is on the listed company, as long as such false complaints exist and cause The loss of the stockholders can presume that there is a causal relationship between the two.

Wu Lijun said that Foshan Lighting A-share code 000541 and Guangdong Lighting B-share code 200541 belong to the same range of securities that can be claimed, as long as it is purchased between Foshan from July 15, 2010 to July 5, 2012 (including the day). Lighting or Guangdong Lighting B shares, and held at the close of July 5, 2012; or between July 6, 2012 and November 2, 2012 (including the day) to buy Foshan Lighting or Guangdong Lighting B shares are held and held at the close of trading on November 2, 2012, and can all participate in the claim.

He said that the stock price of Foshan Lighting A shares after May 7th, 2013 will not have any relationship with this claim, that is, the profit or loss of the stock trading will not affect the claim after the aforementioned time. Any amount with the result of the compensation. As long as the above-mentioned time conditions for buying and holding are met, the profit can still participate in the claim and be compensated. At the Foshan Lighting Shareholders' Meeting held the previous day, the company's chairman Pan Jie said that as of the end of April, the number of people suing the company reached 1,303, and the amount claimed was as high as 180 million yuan.

Shareholders: There are no illegal operations, stocks will not fall so much

The issue of Foshan Lighting's approval of violations has affected the stock price. Before July 2012, the stock price of Foshan Lighting was more than 9 yuan for a long time. Since the announcement of the letter of approval on July 6th, the share price of Foshan Lighting has been sluggish, and it has been hovering between 6 yuan and 7 yuan for a long time until the first half of this year. Only a wave of rising prices appeared.

The stockholder Min Shunqi was the first investor in the country to file a lawsuit claim against the court. Yesterday she told the Beijing News reporter that she was buying Foshan Lighting in 2011. The cost of the purchase was about 14 yuan. Foshan Lighting's share price continued to be sluggish. She shot a part of the stock in November 2012. In 2013, she shot another part. The average selling price was around 7 yuan and the loss was 50%. "If it is not illegal operation, the stock can not fall so much." Yan Shunzhen told reporters: "My loss is about 140,000 to 150,000, which deserves compensation from Foshan Lighting."

For investors who can be compensated for such as Fushun, Pan Jie, chairman of Foshan Lighting, said that as many injured investors are still waiting to see, the number and amount of claims faced by the company may continue to grow. He also said that the company will respond actively in accordance with normal procedures.

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