Foshan Lighting 180 million claims or the second half of the court
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According to the relevant regulations, the Guangzhou Intermediate People's Court, as the intermediate people's court in the seat of the Guangdong Provincial People's Government, has jurisdiction over the case in accordance with the relevant regulations.
Liu Guohua, a well-known securities rights lawyer and director of Guangdong Benben Law Firm, believes that Foshan Lighting’s objection to the jurisdiction and appeal is undoubtedly a delay, but now the Guangdong High Court ruled that the case was over 9 months from the end of the statute of limitations. The injured investor still has enough time to file a lawsuit against the Guangzhou Municipal Intermediate People's Court for liability misrepresentation. Investors only need to buy Foshan Lighting stocks from July 15, 2010 to July 5, 2012 (including that day), and sell or continue to hold shares on July 6, 2012 and beyond, and exist If the investment balance is lost, it is eligible for the lawsuit.
In a certain website stock, many damaged investors called for the case to have returned to the Guangzhou Intermediate People's Court and hoped to open the court as soon as possible. Liu Guohua believes that from the current situation, the court time will be delayed until the second half.
According to Foshan Lighting's 2013 annual report, from September 2013, it received three batches of investor indictment documents before and after it, the total number of people reached 1,303, and the amount claimed was as high as 180 million yuan. Regardless of the number of people involved or the total amount, the case broke the historical record of all similar cases in the Guangzhou Intermediate People's Court. However, some analysts believe that there are still a large number of investors still waiting to see the lawsuit, and the number and amount of claims faced by Foshan Lighting may continue to soar. The annual report shows that the company achieved a net profit of 251 million yuan in 2013. Even if it is based on the current claim amount of 180 million yuan, it has accounted for more than 70% of its net profit for the whole year. 