At the same time, the SFC has initiated a case investigation of Ruihua Accounting Firm, the * ST Kangde Auditing Institution. At present, * ST Kangdes shares have been suspended on Monday (July 8).
Then comes the investors lawsuit claim. The Day of Illegal Disclosure will be a focus of attention. According to the relevant law, only the shareholders who sell or still hold * ST Kangde shares and suffer losses on the disclosure date and after the disclosure date can meet the basic conditions of claim. Hu Peng, partner of Beijing Yingke (Shanghai) Law Firm, told First Financial Journalist.
A person familiar with the matter disclosed to reporters that at present, law firms have received * ST Kangde single household loss claims commission of tens of millions.
Disclosure Day is the Key to Litigation Compensation
As a former A-share white horse stock, * ST Kangde has been sought after by many ordinary investors. According to Wind data, as of March 31, 2019, the number of shareholders in the company was 155,500.
In the face of * ST Kangde, which is going to withdraw from the market, how should the civil litigation claim be made?
Disclosure date is defined as the date when a false statement is widely known to the outside world. It is also the courts view that the date is widely known and serves as a warning to the market. The legal person explained, This is actually to define which part of the person can claim by the disclosure date, that is, to delimit the scope of the investorsclaims.
Both the injured investors who buy Kangde New stock before January 21, 2019 and sell or continue to hold it after January 22, 2019, and the injured investors who buy Kangde New stock before July 5, 2019 and sell or continue to hold it after July 6, 2019.
Possibility Geometry of Claim
From the current situation, * ST Kangdes number of claimant investors will not be small. People familiar with the situation disclosed to the First Financial Journalist that law firms have received tens of millions of claims for individual household losses.
According to the current situation of * ST Kangde, it is likely that it will not be able to actually undertake the obligation of compensation, and may be proposed by creditors for bankruptcy restructuring. Once entering the bankruptcy procedure, the creditors rights obtained by the shareholders winning the lawsuit belong to the ordinary creditors rights, and its compensation has no priority.
In addition, the existence of the reorganization plan will also involve different actual situations of compensation.
If * ST Kangde has reorganized investors and the reorganization plan passes, shareholders may need to be compensated according to the classification of creditors rights group according to the proportion of the repayment of the classification; if there is no reorganization investor or or reorganization plan can not be passed, the actual repayment may be discounted at that time, he said.