The lawsuit period is less than May Germany cotton shares false statement case claim collection

Shandong German Cotton Co., Ltd. (referred to as German cotton shares) on June 12, 2000 in Shandong Province administration for Industry and Commerce registration, October 18, 2006 listed on the Shenzhen Stock Exchange. In June 2009, the China Securities Regulatory Commission issued a decision on administrative punishment of the CSRC ([2009]18 No.).　　Since the introduction of the punishment, there have been a number of small and medium-sized investors to counsel for their rights. The company's main illegal facts first, not timely implementation of temporary information disclosure obligations. From March 16, 2007 to May 13, 2008, German cotton shares to its controlling shareholder de Cotton Group accumulated funds of 434615900 yuan. German cotton shares in the above acts occurred, not in accordance with the requirements of related transactions timely temporary information disclosure.　　June 5, 2008, the German cotton shares issued "about Shandong German Cotton Group Co., Ltd. illegal occupation of funds announcement", disclosed the German cotton group illegal occupation of cotton shares of funds. Secondly, there are false statements in the 2007 interim report and the annual report.　　China Securities Regulatory Commission found that the provisional information on German cotton shares was not disclosed in violation of the provisions of the Securities Act 67th, the German cotton shares 2007 interim report, the annual report of the false statement of the Act violates the Securities Act 63rd provisions. Which investors meet the conditions of prosecution according to the provisions of the Supreme People's Court on the trial of civil compensation cases caused by false statements in the securities Market (hereinafter referred to as "judicial interpretation"), the investor shall, on the basis of the infringement of his own misrepresentation, decide on the administrative punishment of the relevant organs or the criminal , the People's Court shall accept the civil compensation lawsuit brought by the false statement person in accordance with the relevant provisions of civil action. The case has been decided by the SFC's administrative penalty.　　Under section 18th of the judicial interpretation, an investor must buy securities on and after the date of the misrepresentation, and sell or hold the securities after the date of the false statement, in order to prosecute the resulting investment losses. The date of implementation of a false statement means the date on which a false statement or misrepresentation has been made. According to the SFC's administrative penalty decision, the implementation date of the false statement of the German cotton shares is March 16, 2007. False disclosure Day, refers to the false statement in the national distribution or broadcast of newspapers, radio, television and other media, the first time the public disclosure of the day. As a result, the disclosure date for the false statement of the German cotton shares is June 5, 2008.　　In the company issued the day of "Shandong Tak Cotton Co., Ltd. Shandong Tak Cotton Group Limited illegal occupation of funds announcement", the company disclosed that the German cotton group illegal occupation of cotton shares of funds.　　As a result, investors who buy the shares between March 16, 2007 and June 5, 2008 (excluding the day) and sell them on June 5, 2008 and beyond, or who have been holding shares and have lost investment balances, will be eligible for prosecution. How to calculate the loss of investment balanceLoss of the base date and base price for the calculation of loss of investment balance. So, how to determine the base date and benchmark price of the calculation of the investment balance loss? The base date of the calculation of the investment difference loss is the date when the false statement is disclosed, and the accumulated turnover of the securities affected by the misrepresentation is up to 100% of its tradable portion. As from June 5, 2008 to October 14, 2008, the German cotton shares in the stock turnover rate accumulated more than 100%, so October 14, 2008 should be the base date.　　The base price of the investment balance loss is calculated from the date of the false statement to the base date, based on the closing price per day, so the base price should be 4.2 yuan. According to the provisions of the judicial interpretation, after the disclosure of the company's false statement, investors continue to hold shares until June 5, 2008, as long as the purchase price is higher than the benchmark value of 4.2 yuan, regardless of the base date after the sale of shares, the price of the stock changes, investors can be sued according to law, The loss of the investment balance between the purchase price and the base value (4.2 yuan) is claimed. Therefore, although the German cotton shares now the price of more than 7 yuan, shareholders calculate the loss is still to 4.2 yuan as the benchmark.　　If a shareholder after March 16, 2007 to 8.2 yuan to buy 10,000 shares, has been held so far, the investment balance loss of 40,000 yuan. According to the provisions of 30th of the judicial interpretation, the author of the false statement undertakes the scope of civil liability in the Securities Exchange market, which is limited by the actual loss caused by the false statement of the investor.　　The actual loss of the investor includes the Commission, stamp duty and interest on the loss of the investment balance and the loss of the investment margin. Limitation of action as of this year June, according to the provisions of the eighth of the judicial interpretation, false statement of securities civil compensation cases by the provinces, municipalities, autonomous regions of the municipal people's government, separately listed cities and special Economic Zone of the Intermediate Court jurisdiction.　　Therefore, the investor sues the German cotton shares to the Shandong Province Jinan Intermediate People's Court to bring the securities false statement compensation lawsuit. In accordance with the provisions of fifth of the judicial interpretation, the provisions of article 135th of the general rules of civil law shall apply to the investors in the period of limitation of action for civil compensation, that is, two years. The SFC [2009]18 's decision on Administrative punishments was released on June 3, 2009, so investors should Sue by June 3, 2011 at the latest.　　If the overdue prosecution, will lose the right of victory. In order to maintain the legitimate rights and interests of the investors, the investors who have bought the shares of the German cotton and have suffered false statements are called for the lawsuit and the agent investors claim.　　If an investor wishes to initiate a false statement of a securities civil compensation lawsuit, the materials to be prepared include: a notarized copy of the identity card of the investor and the original, the shareholder card, and the original stock transaction statement with the seal of the sales department (from the first buy print to the present). (Author unit: Guangdong Ben Benniu law firm) tips: Guangdong Ben Benniu law firm Lau Lawyer Contact: 13794352148,020-28335873