2007 "China 500 Rich List" issued yesterday in Hong Kong, 500 Regal list total assets reached 4.3426 trillion yuan. Guangdong Regal list of 87 people, the largest number. According to statistics, China has become the second largest number of billionaires of the country, after the United States. Assets of more than 1 billion US dollars in China has reached 146 Regal, a year ago this statistical data for 85.
"China 500 Rich List" by "World Entrepreneur" magazine production, the magazine with the World Brand Laboratory belong to the group of world managers. "Hurun China Rich List", "Forbes China Rich List," The difference is that, "China 500 Rich List" covers including the Mainland, Taiwan, Hong Kong and Macao to the rich. Hong Kong's Sun Hung Kai Properties Kuo brothers top of the list, the Mainland Regal Country Garden Yang Huiyan to 101.2 billion assets ranked fourth, the Regal is the most wealthy, Zhang Yin family ranked sixth, is entered before Another 10 of the Regal.
According to statistics, China's tens of millions of billionaires 0.44 million people, more than 18,000 billionaires and millionaires number about 3.3% of the total population. The phenomenal growth of the number of rich, and is regarded as China's stock market and real estate market of the high-speed growth, "credit." For the real estate industry to contribute to the rich list of 128 people and become truly "rich fertile land."
Regal list of 500 total assets reached 4.3426 trillion yuan, the former 10 per capita wealth 87.61 billion yuan, list the minimum threshold (500) 1,850 million yuan.
Source: 羊城晚报 Zhou Min Dec. 30, 2007
Suntech Recognized for Exceptional Product Quality Control by China's National Quality Administration
Only Chinese Solar Company to Have Received Export Inspection Exemption
Suntech Power Holdings Co., Ltd. (NYSE: STP) one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced that Suntech has been granted National Export Inspection Exemption by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) of the People’s Republic of China. The export inspection exemption is China's highest honor awarded to companies that demonstrate exceptional internal product quality management and control. Suntech is the first Chinese solar company to receive this national recognition.
Since Suntech made the initial application for the export inspection exemption in January of 2006, numerous provincial and national quality representatives have conducted extensive reviews of Suntech’s quality procedures which have led to ongoing quality process evolution and improvement. On December 2, 2007 Suntech successfully passed the final product quality control system inspection conducted by a team of specialists from the AQSIQ and fulfilled all the requirements for the inspection exemption. AQSIQ will continue to regularly inspect Suntech’s quality procedures to ensure that this high quality standard is maintained. In addition to the Chinese export inspection exemption, Suntech has already received international product and quality standard accreditation including IEC61215: 1993, ISO 9001:2000, UL, TuV and CE.
"This national recognition reflects Suntech’s steadfast commitment to exemplary quality control and our determination to exceed local and international quality standards," said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. "With well over 90% of our solar cells and modules sold and installed outside of China, in more than 15 countries world-wide, it is imperative that we ensure a consistent and reliable solar product that can generate electricity in a wide range of environments, applications and weather conditions. Product quality is one of the fundamental building blocks of this industry, and as Suntech progresses towards multi-gigawatt production, we will continue to take steps to improve the performance, quality and durability of our solar products and set benchmarks for the industry."
Suntech’s Quality Control (QC) team consists of over 600 personnel. The QC system incorporates a comprehensive set of controls including sample testing of all materials procured, regular equipment maintenance, manufacturing environment control, quality process ownership, quick response hot spot identification and eradication, and product testing at all critical steps of the manufacturing process. In addition, Suntech is currently exploring a number of initiatives to further improve quality control including increased production automation and adoption of advanced product tracking technologies. Suntech offers industry leading product power output guarantees of 25 years.
Suntech has taken a leading role to improve product quality in the solar industry through regular consultation with industry bodies and discussion with peers that operate at all stages in the solar value chain. In December 2007 Suntech held the 2007 Chinese PV Industry International Competitiveness Forum on behalf of the China Renewable Energy Association. The Forum brought together a diverse group of Chinese and international solar professionals to discuss Chinese PV companies’ participation in the international solar industry and collective initiatives to advance manufacturing techniques, improve industry standards and support ongoing solar innovation.
Source: suntech-power.com Dec. 29, 2007
Suntech Power Holdings Co., Ltd. (NYSE: STP) one of the world’s leading manufacturers of photovoltaic (PV) cells and modules, today announced that Suntech has been granted National Export Inspection Exemption by the General Administration of Quality Supervision, Inspection and Quarantine (AQSIQ) of the People’s Republic of China. The export inspection exemption is China's highest honor awarded to companies that demonstrate exceptional internal product quality management and control. Suntech is the first Chinese solar company to receive this national recognition.
Since Suntech made the initial application for the export inspection exemption in January of 2006, numerous provincial and national quality representatives have conducted extensive reviews of Suntech’s quality procedures which have led to ongoing quality process evolution and improvement. On December 2, 2007 Suntech successfully passed the final product quality control system inspection conducted by a team of specialists from the AQSIQ and fulfilled all the requirements for the inspection exemption. AQSIQ will continue to regularly inspect Suntech’s quality procedures to ensure that this high quality standard is maintained. In addition to the Chinese export inspection exemption, Suntech has already received international product and quality standard accreditation including IEC61215: 1993, ISO 9001:2000, UL, TuV and CE.
"This national recognition reflects Suntech’s steadfast commitment to exemplary quality control and our determination to exceed local and international quality standards," said Dr. Zhengrong Shi, Suntech’s Chairman and CEO. "With well over 90% of our solar cells and modules sold and installed outside of China, in more than 15 countries world-wide, it is imperative that we ensure a consistent and reliable solar product that can generate electricity in a wide range of environments, applications and weather conditions. Product quality is one of the fundamental building blocks of this industry, and as Suntech progresses towards multi-gigawatt production, we will continue to take steps to improve the performance, quality and durability of our solar products and set benchmarks for the industry."
Suntech’s Quality Control (QC) team consists of over 600 personnel. The QC system incorporates a comprehensive set of controls including sample testing of all materials procured, regular equipment maintenance, manufacturing environment control, quality process ownership, quick response hot spot identification and eradication, and product testing at all critical steps of the manufacturing process. In addition, Suntech is currently exploring a number of initiatives to further improve quality control including increased production automation and adoption of advanced product tracking technologies. Suntech offers industry leading product power output guarantees of 25 years.
Suntech has taken a leading role to improve product quality in the solar industry through regular consultation with industry bodies and discussion with peers that operate at all stages in the solar value chain. In December 2007 Suntech held the 2007 Chinese PV Industry International Competitiveness Forum on behalf of the China Renewable Energy Association. The Forum brought together a diverse group of Chinese and international solar professionals to discuss Chinese PV companies’ participation in the international solar industry and collective initiatives to advance manufacturing techniques, improve industry standards and support ongoing solar innovation.
Source: suntech-power.com Dec. 29, 2007
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
United States investors are critical to the Chinese company makeup
In the "data door" incident occurred after Giant Interactive issued a strongly worded statement that did not breach, denied all the allegations, said it would take a positive attitude toward the respondent; Focus Media insiders also said that preparations for the respondent. In this regard, international legal experts said that risk analysis from the collective past of similar cases, although most of them have ended with a settlement, but has something to do with the complexity of the collective action and the United States to strictly legal system, whether it is choice or reconciliation litigation, the two will be an extremely long process, enterprises need to pay enormous time, money and manpower costs, but also the reputation of the enterprise will cause great impact.
Although concrete results forecast is not good, but can be sure that one is: CSGRR on the prosecution of China's listed companies, but also Chinese enterprises outside financing a lesson. Disclosure of a "fatal wound" in the back of the Chinese concept stocks overseas embarrassing Status: Since the main market is still in China, has been the only domestic enterprises are familiar with the existing rules of the game and the lack of the vision of globalization, and the enterprises themselves governance structure is imperfect, without understanding the business culture in overseas markets and regulatory system, especially for not familiar with local laws easily trigger legal risks underestimated. These almost became China concept stocks "common."
Boston, the implementation of an investment banking partner, once encountered in PetroChina collective action in Canada after publicly said that while he shares the Chinese are interested in the concept, but "Asian companies generally do not follow the United States or international accounting standards, a lack of financial transparency , the disclosure of information is not sufficient, the business culture is not as straightforward as the West, these shortcomings can not be made on the credit rating agencies majority of the overseas-listed Chinese companies rating, a huge impact on investor enthusiasm. "
"Criticism from the foreign investors in terms of these factors, Chinese companies in overseas capital markets is' collective absences'." Luwei international law firm partner Lv Lishan Beijing lawyer told reporters, in fact, listed enterprises, in particular in the United States, is an investment banking, audit and other professionals such as lawyers and the need to strictly guard involved in the operation of these professional bodies in order to control their own risk, the general will strictly abide by the laws and professional standards, not condone listed companies to hide important The disclosure of information, and the Sarbanes-Oxley Act in the United States, after the commencement of a more stringent regulatory system, many enterprises of the law out of fear of severe and high regulatory costs, have also abandoned the United States listed.
According to statistics, in recent years in New York and Hong Kong-listed mainland companies by the ratio of a class-action suit has been accounted for 11.5%, the proportion of the Nasdaq market is up 17.2%, more worrisome, many domestic When enterprises received pleadings, often think of themselves as "baffling" being dragged into legal disputes.
"Actually, the reason is that foreign enterprises do not understand the regulatory system, the transparency of their own governance structure is not high, with a number of foreign countries have focused their attention on the movements of listed companies, specialized in class action lawyers make a living (as 'stock market vulture'), enterprises with a slight, it could cause big loss. "Lv Lishan lawyers said.
"For a long time, the United States investors in the China concept stocks have complex emotions: On the one hand, that China imperfect structure, corporate governance, information disclosure opaque But on the other hand, they also believe that the great potential of the Chinese market, while China-related stocks frequently encountered collective action and the United States are the two major stock exchanges to set up offices in Beijing, two contradictory emotions is that the respective reflected. "Lv Lishan lawyers said, risks and benefits coexistence, domestic enterprises to access to overseas securities markets, we must first practice good internal organs, and to comply with its rules of the game must not muddle through fantasy.
Hidden dangers often means disaster, a precedent has been too much.
Source: 法制日报 Dec. 16, 2007
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
In the "data door" incident occurred after Giant Interactive issued a strongly worded statement that did not breach, denied all the allegations, said it would take a positive attitude toward the respondent; Focus Media insiders also said that preparations for the respondent. In this regard, international legal experts said that risk analysis from the collective past of similar cases, although most of them have ended with a settlement, but has something to do with the complexity of the collective action and the United States to strictly legal system, whether it is choice or reconciliation litigation, the two will be an extremely long process, enterprises need to pay enormous time, money and manpower costs, but also the reputation of the enterprise will cause great impact.
Although concrete results forecast is not good, but can be sure that one is: CSGRR on the prosecution of China's listed companies, but also Chinese enterprises outside financing a lesson. Disclosure of a "fatal wound" in the back of the Chinese concept stocks overseas embarrassing Status: Since the main market is still in China, has been the only domestic enterprises are familiar with the existing rules of the game and the lack of the vision of globalization, and the enterprises themselves governance structure is imperfect, without understanding the business culture in overseas markets and regulatory system, especially for not familiar with local laws easily trigger legal risks underestimated. These almost became China concept stocks "common."
Boston, the implementation of an investment banking partner, once encountered in PetroChina collective action in Canada after publicly said that while he shares the Chinese are interested in the concept, but "Asian companies generally do not follow the United States or international accounting standards, a lack of financial transparency , the disclosure of information is not sufficient, the business culture is not as straightforward as the West, these shortcomings can not be made on the credit rating agencies majority of the overseas-listed Chinese companies rating, a huge impact on investor enthusiasm. "
"Criticism from the foreign investors in terms of these factors, Chinese companies in overseas capital markets is' collective absences'." Luwei international law firm partner Lv Lishan Beijing lawyer told reporters, in fact, listed enterprises, in particular in the United States, is an investment banking, audit and other professionals such as lawyers and the need to strictly guard involved in the operation of these professional bodies in order to control their own risk, the general will strictly abide by the laws and professional standards, not condone listed companies to hide important The disclosure of information, and the Sarbanes-Oxley Act in the United States, after the commencement of a more stringent regulatory system, many enterprises of the law out of fear of severe and high regulatory costs, have also abandoned the United States listed.
According to statistics, in recent years in New York and Hong Kong-listed mainland companies by the ratio of a class-action suit has been accounted for 11.5%, the proportion of the Nasdaq market is up 17.2%, more worrisome, many domestic When enterprises received pleadings, often think of themselves as "baffling" being dragged into legal disputes.
"Actually, the reason is that foreign enterprises do not understand the regulatory system, the transparency of their own governance structure is not high, with a number of foreign countries have focused their attention on the movements of listed companies, specialized in class action lawyers make a living (as 'stock market vulture'), enterprises with a slight, it could cause big loss. "Lv Lishan lawyers said.
"For a long time, the United States investors in the China concept stocks have complex emotions: On the one hand, that China imperfect structure, corporate governance, information disclosure opaque But on the other hand, they also believe that the great potential of the Chinese market, while China-related stocks frequently encountered collective action and the United States are the two major stock exchanges to set up offices in Beijing, two contradictory emotions is that the respective reflected. "Lv Lishan lawyers said, risks and benefits coexistence, domestic enterprises to access to overseas securities markets, we must first practice good internal organs, and to comply with its rules of the game must not muddle through fantasy.
Hidden dangers often means disaster, a precedent has been too much.
Source: 法制日报 Dec. 16, 2007
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Disclosure of information into a "fatal wound"
History total surprisingly similar.
China-concept stocks in recent years the concept of a collective overseas cases, almost all the plaintiff's allegations are concentrated in a "disclosure of information" links.
In 2004, UTStarcom was California of the United States to prosecute a large law firm, v. from "the publication of false and misleading statements artificially boost its stock price." The same year, KongZhong investors accused by the United States to "hide the listing of the China Mobile companies including China, the 22 SP-wide network to the penalty decision "and the same being sued; because Netease have also revised annual earnings in 2000, and was sentenced to compensation for medium and small investors 4.35 million US dollars, while China Life Insurance and the five executives, directors in the 2004 collective litigation in the United States, is also against the "failure to make timely disclosure of adverse information" that the case is still in the process……
"China concept stocks frequently encountered legal disputes, the reasons for not accidental.", "Legal Risk Watch" researcher Zhang Yaling, the United States is one of the reasons for strict regulations. Its provisions, enterprises listed IPO alone, there prospectus contains inappropriate statements, omissions, misleading, improper IPO pricing, and other important information may be leaked litigation risks. Listed, the company may also be because the shares fell, did not achieve profit expectations, the financial statements distortion, major events such as improper disclosure of the accused to court.
With such detailed regulation system, the United States investors natural values corporate information disclosure. They believe that the financial norms for enterprises to survive this, the disclosure of information from the performance of listed companies is at least the face of the professional spirit of investors, the quality of information disclosure in corporate governance directly affect the performance of its authenticity and timely clearance of more things Enterprise life and death. This is the United States laws and regulations are not familiar with, internal controls and is not ripe for the Chinese companies, it is no small challenge.
In addition to stringent legal provisions, the two traditional commercial culture very different, collective action is frequently triggered an important reason. Zhang Yaling, many domestic enterprises have become accustomed to the decision makers of major decision-making should be kept confidential, but also the Chinese and international enterprises the process of integration has just started, neither Society and investment, dealing with shareholders, and no changes "in enterprises listed for Physically "The concept of these factors in the decision-makers are easy to unwittingly hide information on.
"Sued the causes are false, withholding information, which to some extent reflects the domestic capital market in the disclosure of information systems deficiencies. System from the point of view of China's information disclosure system compared with overseas markets, the biggest One of the gap between the cost of disclosure of information missing too low, the penalties for false low. some medium and small investors caused huge losses of listed companies violations, often only a fine of a few million or tens of million illegal income is far greater than its regulations cost. habit of thinking of this error once to the United States is tantamount to drawing fire upon themselves, the enterprise's shortcomings will be unlimited enlarge. "Zhang Yaling said.
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
History total surprisingly similar.
China-concept stocks in recent years the concept of a collective overseas cases, almost all the plaintiff's allegations are concentrated in a "disclosure of information" links.
In 2004, UTStarcom was California of the United States to prosecute a large law firm, v. from "the publication of false and misleading statements artificially boost its stock price." The same year, KongZhong investors accused by the United States to "hide the listing of the China Mobile companies including China, the 22 SP-wide network to the penalty decision "and the same being sued; because Netease have also revised annual earnings in 2000, and was sentenced to compensation for medium and small investors 4.35 million US dollars, while China Life Insurance and the five executives, directors in the 2004 collective litigation in the United States, is also against the "failure to make timely disclosure of adverse information" that the case is still in the process……
"China concept stocks frequently encountered legal disputes, the reasons for not accidental.", "Legal Risk Watch" researcher Zhang Yaling, the United States is one of the reasons for strict regulations. Its provisions, enterprises listed IPO alone, there prospectus contains inappropriate statements, omissions, misleading, improper IPO pricing, and other important information may be leaked litigation risks. Listed, the company may also be because the shares fell, did not achieve profit expectations, the financial statements distortion, major events such as improper disclosure of the accused to court.
With such detailed regulation system, the United States investors natural values corporate information disclosure. They believe that the financial norms for enterprises to survive this, the disclosure of information from the performance of listed companies is at least the face of the professional spirit of investors, the quality of information disclosure in corporate governance directly affect the performance of its authenticity and timely clearance of more things Enterprise life and death. This is the United States laws and regulations are not familiar with, internal controls and is not ripe for the Chinese companies, it is no small challenge.
In addition to stringent legal provisions, the two traditional commercial culture very different, collective action is frequently triggered an important reason. Zhang Yaling, many domestic enterprises have become accustomed to the decision makers of major decision-making should be kept confidential, but also the Chinese and international enterprises the process of integration has just started, neither Society and investment, dealing with shareholders, and no changes "in enterprises listed for Physically "The concept of these factors in the decision-makers are easy to unwittingly hide information on.
"Sued the causes are false, withholding information, which to some extent reflects the domestic capital market in the disclosure of information systems deficiencies. System from the point of view of China's information disclosure system compared with overseas markets, the biggest One of the gap between the cost of disclosure of information missing too low, the penalties for false low. some medium and small investors caused huge losses of listed companies violations, often only a fine of a few million or tens of million illegal income is far greater than its regulations cost. habit of thinking of this error once to the United States is tantamount to drawing fire upon themselves, the enterprise's shortcomings will be unlimited enlarge. "Zhang Yaling said.
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
December 3 and December 11, the Nasdaq Stock Market and New York Stock Exchange set up an office in Beijing.
The news industry have interpreted as: China concept stocks favored by the level of overseas markets, the two had come to an important global economic leader to lay down their capital value, approached initiative "that close" to the extreme.
In a very long time, the United States can be listed, to a large extent the success of the Chinese concept stocks ultimate sign.
Listed in the United States, the situation really good?
Clearly not. In recent years, the overseas listing of the "double-edged sword" not very bright side, more and more people of insight is causing concern: Because the United States was almost strictly "harsh" the regulatory system, China concept stocks in the "gold "At the same time the road also bear an enormous legal risk. One of the most obvious is that in recent years one to a class of cases:
Since 2001, China.com was the first collective action took place just six years, there has Netease, China Life Insurance, UTStarcom, China Aviation Oil, Sina, and so nearly 10 overseas listed companies were collective action "attacks", and also show the trend of rapid amplification, multiple events, to be foreign known as "China concept stocks ills" stage.
Has been "head halo" China concept stocks, why go out of the country after always "anticipated"?
Both from the bad "data door"
By the end of November, and the emergence of two explosive news again certification of a collective action "to expand the trend of" projection.
The domestic online games industry leaders Giant Interactive, and set up China's new era of outdoor advertising, scenery unlimited Focus Media, at the end of November in almost the same moment, were from the United States with a firm collective action.
Is collective action!
At this point, Giant Interactive listed on the Nasdaq just 27 days. November 1, Giant Interactive listed on the Nasdaq, then, the stock has been weak trend. November 19, Giant Interactive in the United States released the results after the stock market closed 2007 third-quarter earnings report. The report showed that, "Zhengtu Online" In the third quarter the average number of players online at the same time 481,000 people, the ring fell 6% maximum for the number of players online at the same time 888,000 people, the ring fell 17.2%.
It is this data series, a Giant Interactive handles. November 27, a named CoughlinStoiaGellerRudman & Robbins (CSGRR) announced that the United States law firms on behalf of investors to the District Court Southern District of New York filed against Giant Interactive, as well as specific executives and directors of collective action, the defendant does not compensate the disclosure of information sound and lead to the loss of investors.
CSGRR said investors should be listed as early as in the Giant Interactive players should know before the decline in the number of negative news, because it all happened Giant Interactive listed in the previous month, Giant Interactive in the October 31 listing applications and in the prospectus did not mention this, "the investors feel cheated." CSGRR allegations that Giant Interactive, as well as specific executives and directors violated the 1933 "American Securities Law," and the law in the corporate disclosure of key information, there are strict requirements, and Giant Interactive apparently did not meet this standard.
The news, a Giant Interactive shares plummeted, the stock market almost cruelly chopped waist.
The lawsuits next day, Focus Media also suspected of concealing negative information on the performance of a collective action. Focus Media is the cause in the November 7 of the second stock sale. CSGRR that Focus Media in the prospectus should be pointed out that their Internet advertising in the field of multiple acquisitions, and these acquisitions will lead to gross margins declined. May the fact is that Focus Media in the 12 days after the results must be released when the details of this announcement.
In fact, the plaintiffs are to seize the Giant Interactive Focus Media and Information Disclosure late 19 days to 12 days, "made a big issue."
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
The news industry have interpreted as: China concept stocks favored by the level of overseas markets, the two had come to an important global economic leader to lay down their capital value, approached initiative "that close" to the extreme.
In a very long time, the United States can be listed, to a large extent the success of the Chinese concept stocks ultimate sign.
Listed in the United States, the situation really good?
Clearly not. In recent years, the overseas listing of the "double-edged sword" not very bright side, more and more people of insight is causing concern: Because the United States was almost strictly "harsh" the regulatory system, China concept stocks in the "gold "At the same time the road also bear an enormous legal risk. One of the most obvious is that in recent years one to a class of cases:
Since 2001, China.com was the first collective action took place just six years, there has Netease, China Life Insurance, UTStarcom, China Aviation Oil, Sina, and so nearly 10 overseas listed companies were collective action "attacks", and also show the trend of rapid amplification, multiple events, to be foreign known as "China concept stocks ills" stage.
Has been "head halo" China concept stocks, why go out of the country after always "anticipated"?
Both from the bad "data door"
By the end of November, and the emergence of two explosive news again certification of a collective action "to expand the trend of" projection.
The domestic online games industry leaders Giant Interactive, and set up China's new era of outdoor advertising, scenery unlimited Focus Media, at the end of November in almost the same moment, were from the United States with a firm collective action.
Is collective action!
At this point, Giant Interactive listed on the Nasdaq just 27 days. November 1, Giant Interactive listed on the Nasdaq, then, the stock has been weak trend. November 19, Giant Interactive in the United States released the results after the stock market closed 2007 third-quarter earnings report. The report showed that, "Zhengtu Online" In the third quarter the average number of players online at the same time 481,000 people, the ring fell 6% maximum for the number of players online at the same time 888,000 people, the ring fell 17.2%.
It is this data series, a Giant Interactive handles. November 27, a named CoughlinStoiaGellerRudman & Robbins (CSGRR) announced that the United States law firms on behalf of investors to the District Court Southern District of New York filed against Giant Interactive, as well as specific executives and directors of collective action, the defendant does not compensate the disclosure of information sound and lead to the loss of investors.
CSGRR said investors should be listed as early as in the Giant Interactive players should know before the decline in the number of negative news, because it all happened Giant Interactive listed in the previous month, Giant Interactive in the October 31 listing applications and in the prospectus did not mention this, "the investors feel cheated." CSGRR allegations that Giant Interactive, as well as specific executives and directors violated the 1933 "American Securities Law," and the law in the corporate disclosure of key information, there are strict requirements, and Giant Interactive apparently did not meet this standard.
The news, a Giant Interactive shares plummeted, the stock market almost cruelly chopped waist.
The lawsuits next day, Focus Media also suspected of concealing negative information on the performance of a collective action. Focus Media is the cause in the November 7 of the second stock sale. CSGRR that Focus Media in the prospectus should be pointed out that their Internet advertising in the field of multiple acquisitions, and these acquisitions will lead to gross margins declined. May the fact is that Focus Media in the 12 days after the results must be released when the details of this announcement.
In fact, the plaintiffs are to seize the Giant Interactive Focus Media and Information Disclosure late 19 days to 12 days, "made a big issue."
Link:
Listed Companies in the United States Repeated Experience of Collective Action:Part 1
Listed Companies in the United States Repeated Experience of Collective Action:Part 2
Listed Companies in the United States Repeated Experience of Collective Action:Part 3
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