On the morning of (9) yesterday, the second instance of Foshan Lighting Securities' false statement was held in the Guangdong High Court. The appeals included Foshan Lighting and 13 plaintiff investors. At the end of the second instance, Foshan Lighting and the investors still did not reach a mediation intention, and the court did not issue a verdict. In November last year, the Guangzhou Intermediate People's Court made a first-instance judgment on the Foshan lighting case. Foshan Lighting needed to compensate about 900 plaintiff investors for a total of 59.31 million yuan, and another case acceptance fee of 1 million yuan. Subsequently, Foshan Lighting and some investors were dissatisfied with the trial results and filed an appeal. After the second trial, both parties still debated whether they constituted a false statement and whether it constituted a major matter in the false statement. In addition, there is considerable controversy between the two parties regarding the calculation method of the amount of losses suffered by investors. Both sides also debated the existence of systemic risks. Before the trial ended, the collegial panel asked whether the parties agreed to mediation. The investor's attorney expressed his willingness to accept mediation. Foshan Lighting's attorney said that Foshan Lighting did not grant mediation rights to the law firm, reserved opinions on mediation, and hoped that the investor would propose a mediation plan. Zhou Yusheng, a lawyer at Guangdong Green Law Firm, who is the agent of Foshan Lighting, believes that the stock price decline of 90 shares is due to the disclosure of the information disclosure violation. Only 10 stocks fell after this time, and At that time, A-shares generally fell, so Foshan Lighting did not need to be responsible for investors because of its falling stock price. In addition, Zhou Yusheng insisted that the incident was not enough to rise to litigation: the premise of the false statement was that the information disclosure was illegal for major issues, but the incident of Foshan Lighting did not reach the level of a major event, and the premise was not established. Cannot constitute a false statement. Li Jian, a lawyer of Zhejiang Yufeng Law Firm, who is an agent for investors, believes that the possibility of maintaining the original judgment in the second trial is very high. Together with the subsequent cases that have not yet been heard in the first instance, it is expected that the total amount of compensation paid by Foshan Lighting will exceed 150 million yuan. Set a record for cash claims for civil securities compensation cases in China. Although it has not yet been pronounced, this second trial will be the final review, which means that the Foshan lighting case that has been entangled for more than two years will reach the end, and the results will be demonstrated to the remaining batches of cases that have not yet been tried. On March 6, 2013, Foshan Lighting received an administrative penalty decision issued by the Guangdong Securities Regulatory Bureau. Foshan Lighting was given administrative penalties for violations of information disclosure, and its actions constituted a false statement of securities. Foshan Lighting was fined 400,000 yuan and ordered to correct and give a warning. Since then, investors have filed suit against Foshan Lighting. On March 7 this year, the statute of limitations for the Foshan Lighting Securities false statement liability dispute expired. In the past, Foshan Lighting has issued a number of complaints about litigation. Up to now, 2,369 investors have filed lawsuits with a total claim amount of approximately 336 million yuan. The rights defense stocks hoped to implement the early implementation and did not want to toss yesterday. In addition to the lawyers of both parties, several investors who defended themselves participated in the trial as appellees. A couple who did not want to be named from a long distance from Nanning, Guangxi, were the appellants of the case. Among them, the woman said that she began to buy Foshan lighting stocks from 2010, and finally the total value of stock assets shrank by nearly half, and the losses amounted to more than 70,000 yuan, but the first-instance judgment only compensated more than 30,000 yuan, which was not satisfied with the compensation results. Regarding why there was no choice to appeal, the woman said: The appeal requires a fee, and in order to save the lawyer's agency fee, we would rather come to see it personally. Although we are not satisfied with the first-instance judgment, if we can implement it, we do not want to toss again. Aunt Zeng from Guangzhou wants to make a claim for shrinking his stock of 30,000 yuan. From July 15, 2010 to July 6, 2012, according to the closing price, Foshan Lighting fell by 38.40, which was greater than the decline of the Shenzhen Component Index and the Small and Medium-sized Board Index. Zeng Ayi believes that there is an inevitable connection between Foshan Lighting's concealed information behavior and stock price decline, but it does not exclude reconciliation. It depends on what conditions Foshan Lighting has to offer. It must not be too low, and we do not want to be too tossed.
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