Progress in the case of small shareholder v. Waigaoqiao FALSE statement

People familiar with the matter said May 31, the small shareholder v. Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd. and other securities false statement of compensation for the second instance of the Shanghai Municipal High Court of formal hearing.　　PwC, the same as the defendant and is required to bear joint and several liability for the compensation of Waigaoqiao Road transit accounting firm Limited, before the formal session of the second trial, has reached a settlement with the small shareholders, small shareholder agent Xu Feng has reached a settlement in court on May 31 after the two sides to apply to the Shanghai Gao Yuan to withdraw the appeal to PwC.　　Xu Feng told reporters that, in addition to the small shareholders whether there is a significant loss of investment differences, in the 31st and several previous sessions, the second trial after the formal session of the two sides on the Limitation of Action and Disclosure Day, the issue of Correction Day is still very large.　　It is reported that due to the disclosure of the case, more Zheng Ji and loss determination involving more mathematical calculations, the Court has informed the original defendant to the two sides of the relevant data for the final supplementary verification, the Shanghai High Court for the sake of prudence, will be a week after the case of the fourth trial. It is reported that this claim is only more than 8,000 yuan in the false statement of civil compensation cases, in Shanghai High Court has conducted a talk session and a mediation session, the trial is in the second trial stage of the third session. The small shareholder in the false statement after the date of implementation to June 25, 2005 to 0.515 U.S. dollars in the average price to buy Waigaoqiao B 5800 shares, and until the prosecution has been held, according to the Supreme People's Court on the trial of the securities market due to false statements caused by civil compensation cases of the provisions of the "false statement"　　32nd, and other legal basis, its existence of 1366 U.S. dollars investment gap losses, and commissioned the Shanghai Huarong law firm Xu Feng Lawyer in November 2009 to the first Intermediate People's Court of Shanghai filed securities false statement civil compensation lawsuit. A Chinese court in Shanghai ruled in March 2010 that the stock price held by the small shareholder to the date of the prosecution is higher than the bid, and that it has not incurred actual losses and does not have the factual basis to produce the corresponding civil liability. However, according to the judicial interpretation of false statements, after the base date, the calculation of the investment balance loss is only related to the average buy price, the base date and the benchmark price. Therefore, the small shareholder against the first instance judgment, filed an appeal request Shanghai High Court of Law.