Chung, Eric Man Wai 鍾文偉
SFC obtains disqualification orders against former directors of Luxey (8041)
| Judgment
SFC, 24-May-2023
Webb-site first blew the whistle about this wrong-doing back in 2012. It took the SFC until 2019 to bring this action. In our view, It was and is too little, too late.
SFC, 24-May-2023
Webb-site first blew the whistle about this wrong-doing back in 2012. It took the SFC until 2019 to bring this action. In our view, It was and is too little, too late.
SFC action is too little, too late for minority shareholders of Luxey (8041)
The SFC seeks disqualification of 2 ex-directors, but fails to seek any recovery of Luxey's HK$350m, 7-fold overpayment in an acquisition from an alleged nominee of then Chairman Joseph Lau. We first documented this case and numerous other suspicious transactions involving Luxey and other listed companies in a series of articles in 2012. This is the only one to see any action, and it falls far short of what is needed to provide a deterrent. (14-Apr-2019)
The SFC seeks disqualification of 2 ex-directors, but fails to seek any recovery of Luxey's HK$350m, 7-fold overpayment in an acquisition from an alleged nominee of then Chairman Joseph Lau. We first documented this case and numerous other suspicious transactions involving Luxey and other listed companies in a series of articles in 2012. This is the only one to see any action, and it falls far short of what is needed to provide a deterrent. (14-Apr-2019)
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