I bought a Foshan lighting stock called "Cash Cow", but lost 268,400 yuan. Ms. Liu, a citizen of Jiangcheng, is in the process of suing Foshan Lighting. The lawyer believes that some of Ms. Liu’s transactions are in compliance with the claim conditions and can sue Foshan Lighting for compensation.
Crying: a loss of 270,000 shares
The stock transaction details sent by Ms. Liu to the reporter showed that she bought the stock at the price of 19.60 yuan in October 2010, and bought 3,000 shares for the first time. Subsequently, the stock plunged all the way, Ms. Liu repeatedly filled the position, as of last year she still holds 25,400 shares of Foshan Lighting. The closing price of the stock is 6.32 yuan.
In the past two years, Ms. Liu has lost 268,400 yuan because of Foshan Lighting. She cried to reporters, watching other people's stocks making money and heartbeat, but also involved in the stock market, but in a few years, the blood has no return.
Originally, Ms. Liu felt unlucky and felt that the loss was due to improper operation. But on March 7 this year, Foshan Lighting released a notice that made her feel very angry.
The announcement said: On March 6, Foshan Lighting received administrative penalties issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission due to violations of information disclosure. Among the fines, the CSRC confirmed for the first time that Foshan Lighting concealed related transactions amounted to more than 200 million yuan, and its chairman and friend of the board of directors Zhong Xincai reached 15 related transactions.
At this time, Ms. Liu knew that an important reason for the frequent decline in stock prices was that the hidden related transactions caused the company's profits to shrink.
Rights protection: listed companies have to lose money
Once Foshan Lighting was punished by the Securities and Futures Commission, many lawyers stood up to appeal to shareholders to defend their rights.
Xu Feng, a lawyer of Shanghai Huarong Law Firm, was one of the lawyers in the event. He told reporters that as long as investors are willing to join in appeals, the chances of success are relatively high.
Lawyer Xu Feng said that Foshan Lighting Information Disclosure and Violation has constituted a false statement of securities, so the damaged shareholders can claim compensation for investment balance losses, commissions, interest, stamp duty and so on. According to Xu Feng, according to Foshan Lighting's related transaction time and information disclosure time, if investors file a claim against Foshan Lighting, they need to buy Foshan between July 15, 2010 and July 6, 2012. Illuminate stocks and sell or continue to hold stocks after July 6, 2012. “From Ms. Liu’s transaction record, she is within the scope of the claim.†The reporter saw in her transaction record that from the first transaction in October 2010 to July 6, 2012, Ms. Liu purchased Foshan Lighting stock. It reached 434,100 yuan, and the loss during this period was nearly 150,000 yuan.
Xu Feng told reporters that more than 200 investors have been consulted nationwide, and more than ten people have prepared materials. They are planning to file a lawsuit in the near future to the Guangzhou Intermediate People's Court.
According to incomplete statistics, in the past 10 years, more than 15,000 investors have filed suits for false claims on securities. The amount of the subject matter involved was about 1.5 billion yuan, and about 90 listed companies were sued.
Dialogue lawyers hold a group to defend their rights
Since 2003, Zhejiang Yufeng Law Firm Li Jian has represented investors in the case of Hangzhou Xiao Steel, Dongfang Electronics (China Securities Civil Compensation First Case), Jinzhou Port, Huashengda and other securities claims, recovering losses for more than 300 investors. More than 10 million yuan.
Reporter: The stockholders have no idea what to pay for the claim.
Li Jian: The cost of litigation is mainly litigation fees. The litigation fees are generally around 2% of the amount claimed. For example, the claim for 100,000 yuan is 2,000 yuan. The litigation costs are ultimately borne by the losing party. So far, most of these cases have been lost by listed companies. There is no need to worry too much about the attorney's fees. Such cases usually use a risk agency method. The lawyers do not charge fees in the early stage, and the shareholders pay the attorney's fees in proportion to the agreement.
Reporter: What matters need to be paid attention to when the stockholder claims?
Li Jian: Only after the listed company is punished by the CSRC, or after the court has made a criminal judgment, the shareholders can sue the claim. Shareholders try to entrust professional lawyers to act as agents, and the probability of winning the "holding the group to warm up" will be significantly increased.
Reporter: Do shareholders need to go to the location of the listed company in person?
Li Jian: As a plaintiff, you do not have to appear in person, and you can be represented by a lawyer.
Crying: a loss of 270,000 shares
The stock transaction details sent by Ms. Liu to the reporter showed that she bought the stock at the price of 19.60 yuan in October 2010, and bought 3,000 shares for the first time. Subsequently, the stock plunged all the way, Ms. Liu repeatedly filled the position, as of last year she still holds 25,400 shares of Foshan Lighting. The closing price of the stock is 6.32 yuan.
In the past two years, Ms. Liu has lost 268,400 yuan because of Foshan Lighting. She cried to reporters, watching other people's stocks making money and heartbeat, but also involved in the stock market, but in a few years, the blood has no return.
Originally, Ms. Liu felt unlucky and felt that the loss was due to improper operation. But on March 7 this year, Foshan Lighting released a notice that made her feel very angry.
The announcement said: On March 6, Foshan Lighting received administrative penalties issued by the Guangdong Regulatory Bureau of the China Securities Regulatory Commission due to violations of information disclosure. Among the fines, the CSRC confirmed for the first time that Foshan Lighting concealed related transactions amounted to more than 200 million yuan, and its chairman and friend of the board of directors Zhong Xincai reached 15 related transactions.
At this time, Ms. Liu knew that an important reason for the frequent decline in stock prices was that the hidden related transactions caused the company's profits to shrink.
Rights protection: listed companies have to lose money
Once Foshan Lighting was punished by the Securities and Futures Commission, many lawyers stood up to appeal to shareholders to defend their rights.
Xu Feng, a lawyer of Shanghai Huarong Law Firm, was one of the lawyers in the event. He told reporters that as long as investors are willing to join in appeals, the chances of success are relatively high.
Lawyer Xu Feng said that Foshan Lighting Information Disclosure and Violation has constituted a false statement of securities, so the damaged shareholders can claim compensation for investment balance losses, commissions, interest, stamp duty and so on. According to Xu Feng, according to Foshan Lighting's related transaction time and information disclosure time, if investors file a claim against Foshan Lighting, they need to buy Foshan between July 15, 2010 and July 6, 2012. Illuminate stocks and sell or continue to hold stocks after July 6, 2012. “From Ms. Liu’s transaction record, she is within the scope of the claim.†The reporter saw in her transaction record that from the first transaction in October 2010 to July 6, 2012, Ms. Liu purchased Foshan Lighting stock. It reached 434,100 yuan, and the loss during this period was nearly 150,000 yuan.
Xu Feng told reporters that more than 200 investors have been consulted nationwide, and more than ten people have prepared materials. They are planning to file a lawsuit in the near future to the Guangzhou Intermediate People's Court.
According to incomplete statistics, in the past 10 years, more than 15,000 investors have filed suits for false claims on securities. The amount of the subject matter involved was about 1.5 billion yuan, and about 90 listed companies were sued.
Dialogue lawyers hold a group to defend their rights
Since 2003, Zhejiang Yufeng Law Firm Li Jian has represented investors in the case of Hangzhou Xiao Steel, Dongfang Electronics (China Securities Civil Compensation First Case), Jinzhou Port, Huashengda and other securities claims, recovering losses for more than 300 investors. More than 10 million yuan.
Reporter: The stockholders have no idea what to pay for the claim.
Li Jian: The cost of litigation is mainly litigation fees. The litigation fees are generally around 2% of the amount claimed. For example, the claim for 100,000 yuan is 2,000 yuan. The litigation costs are ultimately borne by the losing party. So far, most of these cases have been lost by listed companies. There is no need to worry too much about the attorney's fees. Such cases usually use a risk agency method. The lawyers do not charge fees in the early stage, and the shareholders pay the attorney's fees in proportion to the agreement.
Reporter: What matters need to be paid attention to when the stockholder claims?
Li Jian: Only after the listed company is punished by the CSRC, or after the court has made a criminal judgment, the shareholders can sue the claim. Shareholders try to entrust professional lawyers to act as agents, and the probability of winning the "holding the group to warm up" will be significantly increased.
Reporter: Do shareholders need to go to the location of the listed company in person?
Li Jian: As a plaintiff, you do not have to appear in person, and you can be represented by a lawyer.
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