The prosecution of the first batch of 515 investors in the Foshan Lighting Civil Claims Case will be held in the Guangzhou Intermediate People's Court on the 22nd of this month. It is reported that the 515 cases of the indictment, which was announced by Foshan Lighting Company some time ago, were represented by two intellectual rights lawyers, Wang Zhibin and Wu Lijun.
Lawyer Wang Zhibin told the reporter that a judge of the Guangzhou Intermediate People’s Court revealed that due to the large number of people, the court only sent the information of the first two lawyers to the Foshan Lighting Company, but the number of people who actually sued the Guangzhou Intermediate People’s Court has reached More than 900, and the amount of prosecution has exceeded 100 million.
Foshan Lighting’s previous announcement was only the tip of the iceberg
On March 6, 2013, Foshan Lighting announced that it had received an administrative penalty decision issued by the Guangdong Regulatory Bureau of the CSRC. According to the punishment statement, Foshan Lighting repeatedly violated the information disclosure requirements of listed companies during 2010 and 2011, and did not do anything about the major guarantees involving related parties and the related transactions and investments related to the daily operations of related parties. Disclosure and so on.
As soon as the announcement came out, the share price of Foshan Lighting continued to fall, and the investor's equity was damaged, which immediately caused claims for rights protection. Since April, stockholders across the country have filed suits in court.
Last month, Foshan Lighting issued a notice saying that the Guangzhou Intermediate People's Court had filed a civil suit against 515 people (pieces) v. Foshan Lighting's “secure statement liability disputeâ€. The amount of claims for 515 civil suits was 73.428 million yuan and 81.899 million yuan (about 64.66 million yuan).
In fact, this is only the number of cases handled by two lawyers, Wang Zhibin and Wu Lijun. Due to the large number of people and other reasons, the court did not immediately submit all the cases filed and filed to Foshan Lighting Company, but in batches. Therefore, the number of cases previously announced by the company is far less than the actual number of prosecutions. Lawyer Wang Zhibin told the "Investment Express" reporter that the Intermediate People's Court thought that the judge had revealed to him that the number of people actually suing the court had already exceeded 900. In this way, the amount of the lawsuit has also broken 100 million.
Causality and systemic risk will be the focus of the prosecution
From March of this year, the first batch of investors sued the court in April, and the first time in late October, the investors of Foshan Lighting waited for half a year to finally greet the first time with the company on the issue of the claim. Face to face communication. Lawyer Wang Zhibin revealed that such speed is not too slow in similar cases.
Regarding the content of the first trial, lawyer Wang Zhibin revealed that the court verbally informed the court on the telephone number of the opening notice and asked the lawyer to arrive in the exchange of evidence one or two days in advance. As for the content of the trial, Mr. Wang expects that the original defendant will defend against the cause and effect of the company's false statement behavior and investor losses, the relationship between investor losses and systemic risks. This is also one of the most controversial points between the prosecution and the defense of such cases.
Can more than 500 cases be opened at one time? Do you need to open for several days? Will there be a large number of investors going to court for trial? In this regard, Mr. Wang said that it is estimated that the case will be completed in one day. Although the number of cases is large, the nature is the same. The two lawyers mainly debate on behalf of investors. There will be no more than 500 investors and a company to confront each other. "The scene." In addition, the trial of such cases is only the prosecution and determination of some principled issues. The specific qualifications of each investor’s claim and the calculation of the amount of loss need to rely on a large number of post-trial work.
Foshan Lighting: Has hired a team of ten lawyers to actively respond to the "review"
In response to the large number of investors and the prosecution of the situation, how does Foshan Lighting react? The "Investment Express" reporter dialed the phone number of the company's board of directors, saying that the company has entrusted the lawyers to respond actively.
For the previous media report, Foshan Lighting did not deny the recruitment of the “Ten Lawyers Group†in response to investor complaints. However, he said that the company did not deliberately create a “luxury lineup†but actively engaged Professional lawyers respond. Due to the large number of cases, the number of lawyers required is naturally more.
Judging from the historical jurisprudence of such cases, most of the listed companies and investors ended up with a settlement. Will Foshan Lighting Company show willing reconciliation will be held at the first hearing, or will it be reconciled? In this regard, its secretary-general said that everything must be "see the situation" and it is still impossible to disclose. He stressed that the company will actively respond, and everything is subject to the announcement.
Although there is no clear indication of willingness to reconcile, the expression of the word “seeing the situation†is not a “resolutely unreconcilable†attitude previously reported by the media.
Lawyer: The first batch of trials will have a major impact on the case
Why is this only the investor represented by two human rights lawyers? In this regard, Wu Lijun, one of the lawyers in the trial, said that it may be because it has the most relevant relationship with Wang Zhibin.
In fact, the convening of “weights†lawyers for trials has precedents in civil trials of foreign securities. The handling of such cases in the United States is questioned, that is, after the most weighted lawyers have produced the results, the opinions and results of the trial will apply to all other relevant cases. Lawyer Wu Lijun said that it is not necessary for the court to listen to the debates in all other similar cases, so the opening of the 22nd is particularly important.
However, some lawyers are not so optimistic, saying that the trial of such cases does not fully refer to the American model. After the first batch of cases, they entered a long-term stagnation period, and there were many cases in which the statute of limitations was delayed. Therefore, the specific circumstances can only be determined after the trial is over.
In the next two years, it is not necessary to wait and see investors to not miss the statute of limitations.
Li Jian, a well-known human rights lawyer, said that according to the judicial practice of such cases, within two years of the statute of limitations, the court usually arranges some cases to be held. After the trial, both parties expressed their intention to mediate, but the number of plaintiffs and the total amount of claims cannot be determined. On the grounds that the timing is not mature, the court will jointly apply for the court to extend the trial limit. Then, the court will set aside all the cases and, after the expiration of the two-year statute of limitations, concentrate on organizing mediation. If the mediation is not successful, the court will be opened in batches and judged according to law.
At the same time, Li Jian said that in view of the fact that such cases are usually not judged or mediated within the two-year statute of limitations, investors who are satisfied with the conditions of the claim but are still waiting to see and hope to win the case after winning the case are promptly prosecuted. If the two-year statute of validity expires, the mediation or judgment of other shareholders will win the case. If you rush to sue, you will “miss the statute of limitations and regret it laterâ€.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
Lawyer Wang Zhibin told the reporter that a judge of the Guangzhou Intermediate People’s Court revealed that due to the large number of people, the court only sent the information of the first two lawyers to the Foshan Lighting Company, but the number of people who actually sued the Guangzhou Intermediate People’s Court has reached More than 900, and the amount of prosecution has exceeded 100 million.
Foshan Lighting’s previous announcement was only the tip of the iceberg
On March 6, 2013, Foshan Lighting announced that it had received an administrative penalty decision issued by the Guangdong Regulatory Bureau of the CSRC. According to the punishment statement, Foshan Lighting repeatedly violated the information disclosure requirements of listed companies during 2010 and 2011, and did not do anything about the major guarantees involving related parties and the related transactions and investments related to the daily operations of related parties. Disclosure and so on.
As soon as the announcement came out, the share price of Foshan Lighting continued to fall, and the investor's equity was damaged, which immediately caused claims for rights protection. Since April, stockholders across the country have filed suits in court.
Last month, Foshan Lighting issued a notice saying that the Guangzhou Intermediate People's Court had filed a civil suit against 515 people (pieces) v. Foshan Lighting's “secure statement liability disputeâ€. The amount of claims for 515 civil suits was 73.428 million yuan and 81.899 million yuan (about 64.66 million yuan).
In fact, this is only the number of cases handled by two lawyers, Wang Zhibin and Wu Lijun. Due to the large number of people and other reasons, the court did not immediately submit all the cases filed and filed to Foshan Lighting Company, but in batches. Therefore, the number of cases previously announced by the company is far less than the actual number of prosecutions. Lawyer Wang Zhibin told the "Investment Express" reporter that the Intermediate People's Court thought that the judge had revealed to him that the number of people actually suing the court had already exceeded 900. In this way, the amount of the lawsuit has also broken 100 million.
Causality and systemic risk will be the focus of the prosecution
From March of this year, the first batch of investors sued the court in April, and the first time in late October, the investors of Foshan Lighting waited for half a year to finally greet the first time with the company on the issue of the claim. Face to face communication. Lawyer Wang Zhibin revealed that such speed is not too slow in similar cases.
Regarding the content of the first trial, lawyer Wang Zhibin revealed that the court verbally informed the court on the telephone number of the opening notice and asked the lawyer to arrive in the exchange of evidence one or two days in advance. As for the content of the trial, Mr. Wang expects that the original defendant will defend against the cause and effect of the company's false statement behavior and investor losses, the relationship between investor losses and systemic risks. This is also one of the most controversial points between the prosecution and the defense of such cases.
Can more than 500 cases be opened at one time? Do you need to open for several days? Will there be a large number of investors going to court for trial? In this regard, Mr. Wang said that it is estimated that the case will be completed in one day. Although the number of cases is large, the nature is the same. The two lawyers mainly debate on behalf of investors. There will be no more than 500 investors and a company to confront each other. "The scene." In addition, the trial of such cases is only the prosecution and determination of some principled issues. The specific qualifications of each investor’s claim and the calculation of the amount of loss need to rely on a large number of post-trial work.
Foshan Lighting: Has hired a team of ten lawyers to actively respond to the "review"
In response to the large number of investors and the prosecution of the situation, how does Foshan Lighting react? The "Investment Express" reporter dialed the phone number of the company's board of directors, saying that the company has entrusted the lawyers to respond actively.
For the previous media report, Foshan Lighting did not deny the recruitment of the “Ten Lawyers Group†in response to investor complaints. However, he said that the company did not deliberately create a “luxury lineup†but actively engaged Professional lawyers respond. Due to the large number of cases, the number of lawyers required is naturally more.
Judging from the historical jurisprudence of such cases, most of the listed companies and investors ended up with a settlement. Will Foshan Lighting Company show willing reconciliation will be held at the first hearing, or will it be reconciled? In this regard, its secretary-general said that everything must be "see the situation" and it is still impossible to disclose. He stressed that the company will actively respond, and everything is subject to the announcement.
Although there is no clear indication of willingness to reconcile, the expression of the word “seeing the situation†is not a “resolutely unreconcilable†attitude previously reported by the media.
Lawyer: The first batch of trials will have a major impact on the case
Why is this only the investor represented by two human rights lawyers? In this regard, Wu Lijun, one of the lawyers in the trial, said that it may be because it has the most relevant relationship with Wang Zhibin.
In fact, the convening of “weights†lawyers for trials has precedents in civil trials of foreign securities. The handling of such cases in the United States is questioned, that is, after the most weighted lawyers have produced the results, the opinions and results of the trial will apply to all other relevant cases. Lawyer Wu Lijun said that it is not necessary for the court to listen to the debates in all other similar cases, so the opening of the 22nd is particularly important.
However, some lawyers are not so optimistic, saying that the trial of such cases does not fully refer to the American model. After the first batch of cases, they entered a long-term stagnation period, and there were many cases in which the statute of limitations was delayed. Therefore, the specific circumstances can only be determined after the trial is over.
In the next two years, it is not necessary to wait and see investors to not miss the statute of limitations.
Li Jian, a well-known human rights lawyer, said that according to the judicial practice of such cases, within two years of the statute of limitations, the court usually arranges some cases to be held. After the trial, both parties expressed their intention to mediate, but the number of plaintiffs and the total amount of claims cannot be determined. On the grounds that the timing is not mature, the court will jointly apply for the court to extend the trial limit. Then, the court will set aside all the cases and, after the expiration of the two-year statute of limitations, concentrate on organizing mediation. If the mediation is not successful, the court will be opened in batches and judged according to law.
At the same time, Li Jian said that in view of the fact that such cases are usually not judged or mediated within the two-year statute of limitations, investors who are satisfied with the conditions of the claim but are still waiting to see and hope to win the case after winning the case are promptly prosecuted. If the two-year statute of validity expires, the mediation or judgment of other shareholders will win the case. If you rush to sue, you will “miss the statute of limitations and regret it laterâ€.
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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