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SFC launches proceedings against CITIC (0267), its former Chairman and executive directors
SFC, 11-Sep-2014
The SFC completed its investigation by 2010, but with the 6-year limit for civil action expiring tomorrow, it probably could not wait any longer for the DoJ to prosecute, so it is taking the civil route via the MMT, and more importantly for investors, it is seeking restoration for those who bought the shares during the period between the alleged false statement on 12-Sep-2008 and the revelation of the FX losses on 20-Oct-2008. Sadly there appears to be no remedy for those who already held the shares on 12-Sep-2008 and relied on the statement in continuing to hold them.
Organisations
People
- Chang, Leslie Li Hsien 張立憲
- Chau, Chi Yin 周志賢
- Fan, Henry Hung Ling 范鴻齡
- Lee, Peter Chung Hing 李松興
- Yung, Larry Chi Kin 榮智健
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