Key Litigation Points in Securities False Statement Liability Disputes

Taking Beijing as an example, among first-instance cases of securities false statement liability disputes filed over the past five years, all fall under the jurisdiction of the Beijing Financial Court. II. Litigation Parties (A) Plaintiffs Eligible in Civil Compensation Cases for Securities False Statements Investors, holders, trustees, and asset management product managers, among others. Investors and holders include market participants such as securities companies, fund management companies, insurance companies, trust companies, and commercial banks—provided that their securities investment products are lawfully established. (B) Liable Parties III. Types of False Statements IV. Loss Assessment The scope of civil compensation liability borne by the information disclosure obligor is limited to the actual losses suffered by the plaintiff due to the false statement, specifically including: (1) Investment differential loss; (2) Commission (0.03%) and stamp duty (0.1%) attributable to the investment differential loss. In securities false statement liability disputes, the term “Three Dates and One Price” refers to: the date of implementation of the false statement, the date of disclosure (or correction), the benchmark date for calculating investment differential loss, and the benchmark price for calculating investment differential loss. Date of Implementation: The date on which the information disclosure obligor makes the false statement or on which the false statement occurs. Date of Disclosure: The date on which the false statement is first publicly disclosed—and thereby becomes known to the securities market—on nationally influential media such as newspapers, radio stations, television networks, regulatory authority websites, trading venue websites, major portal sites, or industry-renowned self-media platforms. Benchmark Date: The cut-off date prescribed to reasonably limit plaintiffs’ compensable losses strictly to those caused by the false statement. In a centrally auctioned trading market, the benchmark date is the date on which cumulative trading volume of the affected security reaches 100% of its freely tradable shares, commencing from the date of disclosure or correction. If the cumulative turnover rate reaches 100% of freely tradable shares within ten trading days after the date of disclosure or correction, the tenth trading day shall be the benchmark date; if such threshold is not reached within thirty trading days, the thirtieth trading day shall be the benchmark date. Benchmark Price: The average closing price of each trading day between the date of disclosure (or correction) and the benchmark date, used as the benchmark price for loss calculation.

Historic! Listed Company Voluntarily Announces: Statute of Limitations for Investors’ Stock Claims Is About to Expire

Investors who purchased the company’s shares between September 24, 2019, and March 14, 2024, and sold or continued holding such shares after March 15, 2024, may be involved in this securities false statement liability dispute. Whether investors’ claims meet statutory compensation conditions, whether judicial support will be granted, and whether the company ultimately bears compensation liability—including the specific amount—must all be determined through statutory procedures, based on each investor’s individual transaction records, case facts, and relevant laws and regulations. (III) Notice Regarding the Statute of Limitations Pursuant to the Provisions of the Supreme People’s Court on Several Issues Concerning the Trial of Civil Compensation Cases Arising from False Statements in the Securities Market and the Civil Code, the statute of limitations for civil compensation claims arising from false statements begins to run from the date of disclosure and lasts three years. Given that the disclosure date in this case is March 15, 2024, the statute of limitations will expire on March 15, 2027. I. Which Investors Qualify for Claims? (Preliminary Assessment by Counsel) Under the Civil Code, the Securities Law, and related judicial interpretations issued by the Supreme People’s Court, listed companies and NEEQ-listed companies must compensate investors for losses caused by fraudulent issuance, financial fraud, false statements, insider trading, stock price manipulation, or other material violations. Attorney Zhang Chunjie of Beijing has preliminarily identified the following group of investors as potentially eligible for compensation: those who purchased Zhuolang Technology (Stock Code: 600225) or Jinxinke 5 shares between September 21, 2019, and March 14, 2024, and still held such shares at market close on March 14, 2024 (subject to final determination by the court). Interested parties may consult via the WeChat public account “Gu Hai Wei Shi.” Note: Whether or not the listed company is delisted does not affect civil claims, though it may impact litigation progress. However, initiation of bankruptcy proceedings—including reorganization, pre-reorganization, or liquidation—significantly increases the likelihood of litigation delays. II. What Is the Claims Process? Given the company’s alleged violations of information disclosure regulations, the Beijing Yinghe Law Firm’s Attorney Zhang Chunjie team—specializing in securities false statement disputes and with extensive experience handling stock claim cases—provides full-process legal support. Attorney Zhang has practiced law for 18 years (Lawyer’s License No.: 11101200810261853).

Faruqi & Faruqi Reminds Chemours Investors of Securities Class Action Deadline

1 day ago

Faruqi & Faruqi LLP reminds Chemours investors of the December 7, 2026 deadline to seek lead plaintiff status in a securities class action alleging false statements regarding Opteon products and financial guidance.

Bluefield Daily Telegraph

2026-08-06

California AG Accuses DuPont of Shell Game to Dodge PFAS Cleanup

2026-09-05

Chemours, DuPont found liable for PFAS contamination in North Carolina properties; jury trial set for March

2026-09-23

Environmental groups allege Chemours hasn't met PFAS limits agreement

2026-10-11

The Chemours Company Sued for Securities Law Violations

2026-10-12

Faruqi & Faruqi Reminds Chemours Investors of Securities Class Action Deadline

Faruqi & Faruqi Reminds Chemours Investors of Securities Class Action Deadline

FAQ