Shagang’s controlling shareholder was punished and announced that investor claims would start
Daily Business Daily News On the evening of May 10, Jiangsu Shagang Co., Ltd. (Stock Code: 002075 Securities Abbreviation: Shagang Shares) issued an announcement that the controlling shareholder received the “Advance Notice of Administrative Penalty” from the China Securities Regulatory Commission. Li Jian, a lawyer from Zhejiang Yufeng Law Firm, who has long represented investors in their claims, said that according to the new judicial interpretation of misrepresentation, damaged investors can sue for claims in accordance with the law.
Shagang shares are mainly involved in two suspected illegal contents: 1. Zhangjiagang Free Trade Zone Jinlin Fengtai Trading Co., Ltd. (“Jinlin Fengtai”) borrowed Sun Lianjie’s securities account to buy “Shagang shares”, and the funds came from Jinlin Fengtai , some funds also flowed into Jinlin Fengtai following the sale of “Shagang Shares”. 2. The controlling shareholder Jiangsu Shagang Group Co., Ltd. (“Shagang Group”) and Jinlin Fengtai are suspected of illegal information disclosure: Shagang Group did not inform Shagang Group of its concerted action relationship with Jinlin Fengtai, which led to Shagang Group’s 2019 and 2020 There are false records in the annual report; Shagang Group’s shareholding ratio decreased by 1% without notifying the listed company to make a timely announcement. The China Securities Regulatory Commission plans to decide: Shagang Group will be ordered to make corrections, given a warning and fined 2.5 million yuan; Jinlin Fengtai will be ordered to make corrections, given a warning and fined 800,000 yuan.
According to the judicial interpretation of securities misrepresentation, the controlling shareholders of listed companies and other investors have suffered damage to their rights and interests due to illegal information disclosure. “At present, we are reviewing the claim materials in batches and going through the entrustment procedures in advance. Damaged investors can consult through WeChat stock315.” Lawyer Li Jian said, according to the judicial interpretation, tentatively: from March 31, 2020 to November 2021 Damaged investors who bought shares of Shagang during November 2 and continued to hold the shares at the close of business on November 2, 2021 can claim. The conditions of the claim are ultimately determined by the court. Investor claims should provide the original securities account opening information inquiry form, the original stock statement (from March 1, 2020 to the present), and contact information.
Source: Daily Commercial Daily Author: reporter Zhang Cai Editor: Zheng Haiyun
