St Carey’s illegal information disclosure was judged to compensate investors’ losses

On October 12, another good news was heard in the case of investor rights protection: Jinan Intermediate People’s court conducted a detailed trial on whether the information disclosure of St Carey (002072) constituted a false statement, the determination of the implementation date, the disclosure date, the base date and the benchmark price of the illegal act, the calculation of the investor’s loss, and the causal relationship between the loss and the illegal facts Switzerland needs to compensate investors for their losses. < / P > < p > “after the CSRC imposed administrative punishment on St Carey, up to now, we are the lawyer team that exclusively represents investors to sue and has obtained the judgment of first instance victory.” Yang quanjun, senior partner and lawyer of Beijing Yingke (Jinan) law firm, said in an interview with the reporter: the court found that investors who bought st Carey (then known as Kairui) from August 28, 2015 to December 20, 2017, whether they sell or not, can consult lawyers through wechat gushi148 or sue themselves to the court. < p > < p > the reporter inquired about the company’s announcement and found that: St Carey, formerly known as German cotton Co., Ltd., is engaged in spinning, weaving, textile raw materials, textiles, clothing and other businesses. On November 6, 2014, the name of the company was changed to kairuide Holding Co., Ltd. After that, the company accelerated the transformation of business strategy, suspended trading for many times, planned major events, and carried out a series of asset acquisition and foreign investment. At that time, the company’s actual circulating shares were 176 million shares, with a total turnover of 1466.80%, and the highest stock price reached 33.76 yuan. < / P > < p > the company has been investigated by the CSRC for two consecutive times because of suspected illegal information disclosure. After the resumption of trading, the company has had a “one” limit for seven consecutive trading days, with a total decline of 52.18%. Based on this, it is estimated that there are not a few shareholders who have suffered losses. The court’s decision that investors win the lawsuit highlights the state’s protection of investors’ legitimate rights and interests, which helps to urge listed companies to operate in accordance with the law and improve the quality of listed companies. < / P > < p > Disclaimer: the purpose of this article reprinted by china.com finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.