Zhangzidao announced on December 18 that it had recently received the “Notice of response” served by Dalian intermediate people’s court. Zhangzidao was sued for a dispute over the liability for misrepresentation of securities, with a litigation amount of 10.6775 million yuan. < / P > < p > in this lawsuit, Jiang Zhigang and other 25 people filed a lawsuit to Dalian intermediate people’s court for various economic losses and litigation costs from Zhangzidao on the ground of Securities Misrepresentation liability dispute. The total amount of litigation is 10.6775 million yuan. According to Zhangzidao, in view of the fact that the above litigation cases have not yet been heard, the possible impact on the company’s current or future profits is uncertain. The company attaches great importance to relevant litigation cases, and has engaged a team of professional lawyers to actively respond to the litigation, and safeguard the legitimate rights and interests of the company and all shareholders in accordance with the law and regulations. On the evening of December 1, Zhangzidao announced that it had received the “Notice of response” served by Dalian intermediate people’s court, and the court had accepted the case of 14 persons including Zheng Haixia, a natural person, suing the company for the liability dispute of Securities Misrepresentation, with a total amount of 19.338 million yuan. In addition, on the evening of November 18 and 20, Zhangzi Island successively issued announcements. The company announced on the evening of the 18th that as of the disclosure date, the accumulated litigation amount of the company in 12 consecutive months totaled 11.0762 million yuan. On the evening of the 20th, it was announced that the dispute over the liability for false reporting of the company’s securities was accepted by the court, with a litigation amount of 10.8766 million yuan. < p > < p > on June 15 this year, the CSRC made a decision of administrative punishment and market ban on the case of Zhangzidao and related personnel suspected of violating securities laws and regulations. According to the CSRC, the false profit of Zhangzi Island in 2016 was 130 million yuan, accounting for 158% of the total profits disclosed in the current period; the false profit of Zhangzi Island in 2017 was 280 million yuan, accounting for 39% of the total profits disclosed in the current period. Zhangzidao’s above-mentioned behavior is suspected to constitute the crime of illegal disclosure and non disclosure of important information. On June 24, China Securities Regulatory Commission (CSRC) issued an announcement to impose administrative penalties and ban the market entry on the information disclosure violations of Zhangzidao company in accordance with the law, warn Zhangzidao company and impose a fine of 600000 yuan, impose a fine ranging from 30000 yuan to 300000 yuan on 15 responsible persons, and ban the market entry for 5 years to life on 4 main responsible persons. < / P > < p > Disclaimer: the purpose of this article reprinted by CNFC is to convey more information, and it does not represent the opinions and positions of CNFC. The content of this article is for reference only, and does not constitute an investment proposal. Investors operate on this basis at their own risk. < p > < p > Chinanet is a state key news website under the leadership of the Information Office of the State Council and the management of China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website publishes information 24 hours a day. It is an important window for China to carry out international communication and information exchange.