Court acquits solicitor Leung Pak Keung of insider dealing in CASH Financial Services (0510)
Court acquits solicitor of insider dealing in shares of CASH Financial Services Group Limited
Issue date: 2021-04-09 17:10:34
The Eastern Magistrates’ Court has acquitted Mr Leung Pak Keung, a practising solicitor, of five charges of insider dealing in the shares of CASH Financial Services Group Limited (CFSG) between 18 December 2014 and 2 January 2015 (Notes 1 & 2).
The Securities and Futures Commission (SFC) alleged that Leung, who was a legal advisor to the buyer in a proposed acquisition of CFSG shares at the material time, purchased CFSG shares whilst in possession of CFSG-specific, non-public and price sensitive information.
In deciding to acquit Leung, Magistrate Ms Winnie Lau found that the witnesses gave conflicting evidence and it was not demonstrated beyond reasonable doubt that he knew the subject information was inside information.
The SFC is reviewing the decision.
- Please see the SFC’s press release dated 11 April 2019.
- CASH Financial Services Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited in 2008.