On January 4, 2024, Jinlitai (300225) disclosed the announcement of receiving an administrative penalty, confirming its inflated revenue through ***. As soon as the announcement came out, the injured shareholders in the stock bar were furious and wanted to take up the legal claim.
In fact, as early as March last year, Jinlitai announced an investor claim case, which was caused by the flickering increase in holdings of Jinlitai executivesAfter that, Jinlitai successively issued announcements on 11 shareholder claim cases. According to the author's statistics, as of October 13, 2023, Jinlitai has announced 31 shareholder claims, with a total claim amount of more than 2,800 yuan. In these cases, Jin Litai was the first defendant, and the two executives, Yuan Xiang and Luo Dian, were the second and third defendants who were required to bear joint and several liability. The author noted that the vast majority of these 31 cases were aimed at the flickering increase of senior executives, and only 1 case was against ***, while 5 cases were prosecuted by packaging these two types together.
If you see a listed company or related personnel being punished or punished, will you be able to claim compensation?Not really. It wouldn't be interesting if it was that simple. The author tries to analyze:
Yuan Xiang and Luo Dian were given a public reprimand by the Shenzhen Stock Exchange for flickering their holdings, and after the announcement of the implementation results of the increase in their holdings without any increase in holdings was disclosed, the stock prices almost fell to the limit, so they had the material elements of the claim. Of course, the author believes that it is not so important what the stock price falls into, because the ** law stipulates that as long as the loss is due to the flickering increase in holdings, these losses can be claimed from the flicker. Therefore, it is feasible to claim compensation from these two people for the flickering increase in holdings. The author's team has judged that inInvestors who sold or continued to hold Jinlitai between June 15, 2021 and September 30, 2022 (inclusive) and sold or continued to hold Jinlitai after October 10, 2022 (inclusive).If a claim is brought against these two individuals, it is expected to be upheld by the courtOf course, there is uncertainty in claiming compensation from Jinlitai itself.
However, it seems that there is administrative penalty support, but unfortunately at the two points in time when this matter is implemented and exposed, the stock price and trading volume have not changed significantly, and there are no material elements of the claim. Therefore, the author suggests that we should be cautious in this matter.
Friendly reminder: The copyright of this article belongs to Guangdong Huashang (Xi'an) Law Firm, ** and citation are welcome, but it is not easy to be original, ** and citation must indicate the source;This article only represents the research views of our team, which are based on a preliminary analysis of the official information currently available to the public, and do not rule out the revision of conclusions caused by the emergence of more facts after the case enters the trial procedure. The information or opinions expressed in this article do not constitute any investment advice, and the team does not accept any responsibility for any actions taken as a result of the use of the conclusions contained herein.