The Mai Lam incident has aroused high concern in the industry

Absrtact: "The first stock of China's E-commerce" in the United States Nasdaq listed "honeymoon period" soon after, was accused of reporting false, information disclosure error, by the overseas lawyers, a series of lawsuits, the share price. At present, the Macaulay incident has caused the industry to close

"The first stock of China's E-commerce" in the U.S. Nasdaq-listed "honeymoon period" soon after, was accused of reporting false, information disclosure error, by the overseas lawyers, a series of lawsuits, the share price. At present, the Mai Lin incident has aroused high concern in the industry for the current Chinese Internet companies overseas "packaging listed" hot ring alarm.

Mecoxlane A class action lawsuit in the United States

Macaulay landed on Nasdaq on October 26 this year, becoming "the first Chinese company to go public", which was hailed by the industry as a landmark in the development of China's e-commerce industry.

But with the company's first earnings release at the end of November, the halo-shrouded business quickly fell to hell from heaven. As of December 14, the company's share price had fallen by more than 50% per cent, and five class-action lawsuits in the United States were alleged to have been reported as false.

In response to a spate of class-action lawsuits, Macaulay responded publicly on 7th, saying the company and its directors and senior management were prepared to defend the claim vigorously, and that the lawsuit would not have any significant impact on day-to-day operations.

In a statement, Mecoxlane said that some individual shareholders in the United States had been informed of the submission of at least one class action petition in December 2010, claiming that the company and its relevant senior managers and directors violated the 1933 Securities Act of the United States during the company's initial public offering in October 2010.

Zhang Chenhao, a senior analyst at Research Institute McGregor Consultants, said the Macquarie incident would have a negative impact on the recent listing of Chinese Internet companies in the US, and would affect the pace of Chinese Internet companies listing overseas.

Does not represent China's E-commerce

On the eve of a succession of lawsuits, in order to Youku, when the head of several Chinese internet companies in the recent listing on the NYSE, and highly sought after by overseas investors. Youku's shares rose 161% per cent on the first day of the IPO, creating the most recent five-year rise in the U.S. stock market. Dangdang's first-day rise also reached 87%.

In the industry's view, the current "China + Internet" concept is an upsurge in overseas capital markets. The main reason for Macaulay's "Waterloo" was the first earnings figures released after the IPO. The earnings show that the third quarter of this year's gross profit margin fell nearly 400 basis points, sales and management costs increased 20.4%, operating costs increased by 19.8%.

In an interview, Feng Lin, an analyst at the China Electronic Commerce Research Center, said that in the United States, class action was a normal state, and that some organizations had to take malicious action in order to gain the benefit of standardizing information disclosure. Macaulay's debut was partly attributable to the premium generated by the "Chinese element", which was the direct cause of the recent fall, which was a mild three quarterly and a correction to earlier gains.

Dcci, general manager of the Internet Data Center, Yanping (Weibo) said: "Macaulay is not China's first e-commerce, but not China's first e-commerce stop, but is the first stock financing skills only; the price of Mai Lin tumbled, neither can explain China's e-commerce now, but also can not represent the future of China's E-commerce, Can only explain the excessive packaging of Macaulay's own. "According to Xinhua