Today, the second trial of Foshan Lighting's false statement dispute was held in the Guangdong Provincial High Court. In response to the first-instance judgment issued by the Guangzhou Intermediate People's Court in November last year, the first batch of 1,303 investors who filed the Foshan Lighting Compensation totaled 59.31 million yuan. Foshan Lighting mentioned The appeal was also filed by the 13 plaintiff investors.
Mr. Wang Zhibin, a lawyer at Shanghai Jiesai Law Firm, who advised investors, told Netease Finance that Foshan Lighting submitted an appeal of more than a dozen pages, but the views have been stated in the first-instance defense. There is no new evidence, so the possibility of reversing the case Not large, it is expected that the result of the second trial will be to maintain the first-instance judgment, and the amount of compensation for the shareholders is about 30% to 60% of the amount claimed.
The case was heard at the High Court of Guangdong Province at 9:30. Netease Finance witnessed the scene. There were 8 people in the collegiate bench at the scene. There were 8 people on the appeal table. The appeal seat was crowded with more than 20 people. In addition to the lawyers who specialize in securities disputes, there are a small number of individual investors who act on their own.
According to public information, Foshan Lighting has a series of connected transactions in raw materials procurement and product sales from 2009 to 2012. What is more serious is that these affiliated companies have a close relationship with Zhong Xincai, who is the chairman of Foshan Lighting. Among the actual controllers are the eldest sons, second sons, younger brothers, wives and sisters of Zhong Xincai. The stock price was affected by this negative trend and the shock fell. According to Netease Finance, the loss is as high as 8.5 million yuan.
It is worth mentioning that Foshan Lighting is a “cash cow†of A-shares, attracting many investors. This is an important reason for the large number of investors who are eligible for litigation. This case has become the largest number of investors in recent years. The biggest investor rights protection case.
However, this judgment is the final review, which means that the Foshan lighting case that has been entangled for three years will reach the end, and the results of the judgment will have a demonstration effect on the second batch (already first trial, not yet pronounced) and the third batch (not first trial).
It is understood that this dispute has reached the lawsuit closing date on March 5, 2015. However, before this, hundreds of investors' litigation materials have been submitted to the Guangzhou Intermediate People's Court, which is still in the stage of filing, Foshan. The amount of the claim for lighting will exceed the previously announced 180 million yuan.
Mr. Wang Zhibin, a lawyer at Shanghai Jiesai Law Firm, who advised investors, told Netease Finance that Foshan Lighting submitted an appeal of more than a dozen pages, but the views have been stated in the first-instance defense. There is no new evidence, so the possibility of reversing the case Not large, it is expected that the result of the second trial will be to maintain the first-instance judgment, and the amount of compensation for the shareholders is about 30% to 60% of the amount claimed.
The case was heard at the High Court of Guangdong Province at 9:30. Netease Finance witnessed the scene. There were 8 people in the collegiate bench at the scene. There were 8 people on the appeal table. The appeal seat was crowded with more than 20 people. In addition to the lawyers who specialize in securities disputes, there are a small number of individual investors who act on their own.
According to public information, Foshan Lighting has a series of connected transactions in raw materials procurement and product sales from 2009 to 2012. What is more serious is that these affiliated companies have a close relationship with Zhong Xincai, who is the chairman of Foshan Lighting. Among the actual controllers are the eldest sons, second sons, younger brothers, wives and sisters of Zhong Xincai. The stock price was affected by this negative trend and the shock fell. According to Netease Finance, the loss is as high as 8.5 million yuan.
It is worth mentioning that Foshan Lighting is a “cash cow†of A-shares, attracting many investors. This is an important reason for the large number of investors who are eligible for litigation. This case has become the largest number of investors in recent years. The biggest investor rights protection case.
However, this judgment is the final review, which means that the Foshan lighting case that has been entangled for three years will reach the end, and the results of the judgment will have a demonstration effect on the second batch (already first trial, not yet pronounced) and the third batch (not first trial).
It is understood that this dispute has reached the lawsuit closing date on March 5, 2015. However, before this, hundreds of investors' litigation materials have been submitted to the Guangzhou Intermediate People's Court, which is still in the stage of filing, Foshan. The amount of the claim for lighting will exceed the previously announced 180 million yuan.
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