The original shareholder does not fulfill the share reform commitment St Square source small shareholder lawsuit rights

Source: Internet
Author: User
Keywords St FountainVest
Tags .mall .net class action company duty failed failed to it is
"The sooner this weekend the specific litigation plan will come out. "Beijing asked days law firm Zhangyuanzhong lawyer February 10 in the Chinese times," the reporter said. This means that as the St square source [7.01 0.86%] (600656) Case of the lawsuit agent Beijing asked days law firm to St FountainVest the original major shareholder to bring collective action and the agent of investor claims, after a long period of investigation will be formally launched; Meanwhile, many St FountainVest investors expect "  The willingness of big shareholders to fulfill their promises and return the money as soon as possible will be realized with the deepening of the lawsuit. The original shareholder failed to fulfill the share reform commitment "Beijing asked day law firm for more than half a year for the Shanghai and Shenzhen nearly 1400 companies involved in the reform of the Non-tradable shares of the listed company shareholders," the commitment to fulfill the status of the implementation of the survey the lawyer found that St-source Non-tradable shareholders failed to fulfill the share reform commitment, ST side source executives did not do their due diligence and diligence duty of care , the sponsor has not fulfilled his duty.  "Written in a legal opinion issued by Zhangyuanzhong. It is understood that the 2007 St Square source of major shareholder Dongguan Tatsu Investment Management Co., Ltd. and the second largest shareholder Xuzhi in the company's share reform program has promised: St side-source reform after the implementation of the 2008-year performance not less than 45 million yuan, The net profit of the common shareholders of the listed companies is not less than 100 million yuan in 2008 and 2009 two; the difference between the actual net profit and the promised net profit will be made up in cash by the Xuzhi investment and the payment period of 10th after the 2009 Annual report is disclosed. St FountainVest 2008 Annual report shows that the company achieved a net profit of 45.037 million yuan in 2008, higher than the promised profit forecast (45 million yuan), reached the performance commitment requirements; April 30, 2010, St FountainVest Disclosure 2009 Annual report, The company loss of 471.832 million Yuan, 2008, 2009, the cumulative ownership of the listed company shareholders of the net profit and commitment to the difference between the performance of 526.795 million yuan, in accordance with the commitment of the investment and Xuzhi should be in cash before May 10, 2010 to make up.  However, the investment and Xuzhi not only failed to fulfill their promises, but instead turned the majority of the stakes in the form of judicial auctions. For the shareholders failed to fulfill the share reform commitment, in order to protect the legitimate rights and interests of listed companies, the Guangdong Securities and Regulatory Bureau issued a letter to the company in May 2010, requiring them to formulate and implement the specific plan for fulfilling the relevant commitments as soon as possible. September Guangdong Securities and Regulatory Bureau decided to give the award of the investment, and to fulfill the relevant commitments. In addition, a special meeting of the relevant volunteers and shareholders will be convened before November 30 to develop specific programmes for the implementation of the share reform commitments.  However, up to now, the investment and Xuzhi has not fulfilled the share reform commitment. "The reason why the failure to fulfill the share reform commitment is that the original major shareholders do not have this ability." "St Fang Yuan Dong secret recipe Yiqiu said to reporters," We are also in the push, and even with the new major shareholders in consultation, seeWhether they can replace the original major shareholders to fulfill their commitments. However, there is no substantive progress. "Minority shareholder Collective Rights St FountainVest the original big shareholder does not fulfill the share reform commitment behavior aroused the investor's strong indignation." "I have already complained to the Guangdong Securities and Regulatory Bureau." But the listed companies just blindly communicate, do not know when the results. In the case of fruitless, I finally chose to settle the lawsuit. "An St FountainVest investor told reporters," Zhangyuanzhong lawyer has already represented my lawsuit. "It is understood that there have been a lot of St FountainVest shareholders spontaneously organized, commissioned by the Beijing law firm to St FountainVest of the original major shareholders of the collective action, and by its agent claim." "Our investors are urging big shareholders to keep their promises and pay back as soon as possible," he said. "We choose to protect our interests by legal means and let people know that our vast retail investors are not a bully," said another St FountainVest investor, Mr Li. "" Xuzhi investment, the failure to fulfill the share reform commitment to constitute a breach of contract, should assume the responsibility of continuing to perform, compensation St FountainVest and other shareholder losses. Zhangyuanzhong told reporters, "At present, I have received a number of investors to apply for a class action, a few members." We also hope that the broad masses of investors can stand up and bravely defend their legitimate rights. "The reporter also noted that in Beijing, the Law office issued by the legal opinion, in addition to the pursuit of the Xuzhi and the responsibility of the breach of the contract, also referred to the company director Machong, Xuzhi not fulfill the obligations of Directors; Zhuhai Huaxin Investment Co., Ltd., Liaoyuan Dacheng Investment Co., Ltd. Lin Huan The shares of the Non-tradable shares after the public statement on behalf of the implementation of the share reform commitments and not fully discharged, has constituted a breach of contract; St party source executives fail to fulfill their duty of diligence. "It was expected that the specific litigation plan would come out after the Spring festival, and that the process could be started as soon as this weekend," he said.  Zhangyuanzhong to reporters. For St shareholder's class action, Fang Yiqiu said he had heard, but he told reporters: "The original major shareholders do not have this strength, even if the win, may not be able to get money." He also said: "Although the lawsuit is aimed at the shareholder level, but it will certainly have a certain impact on the listed companies, the company's subsequent operations will be affected." ”
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