Sunday, October 11, 2015

Everbright securities "bungle" first won the event civil compensation case 171 stocks investors can claim

Photo: CFP

On September 30, the Shanghai second intermediate people's Court of 8 investors Everbright securities company limited v securities, futures, insider trading first-instance verdict in the dispute cases, 6 investors won compensation. Decree of 6 cases, the verdict amounts to compensate the plaintiff RMB 296,100.

However, Everbright securities on October 7 with the latest announcement said that Everbright securities will own the event appealed the verdict.

Everbright securities on October 7 prompting said, according to the relevant provisions of the civil procedure law, for support or partially support the claim of the plaintiff the judgment of first instance, 6 investors won compensation. Lawyers said August 16, 2013 in 14:22 buy the 171 stocks investors can claim.

One of the plaintiff attorneys lawyer with Shanghai Hua Rong Xu Feng interface to reporters that "the appeal is a right conferred by law, throughout the process, the Everbright securities has exhausted all their rights, including after accepting their objection to jurisdiction. Right of appeal. "But he said that Everbright securities in favour of the ne bis in idem probability almost nothing. "The appeal for delay time on November 14, the Statute of limitations, and to reduce the impact. "

With the landing of the judgment of first instance, as well as the validity of the proceedings will come, more investors may be eligible to Everbright securities litigation. "We will submit two days a group of investors filed the complaint to court, increased a lot during the national day holiday, express also began to arrive. "Xu Feng reporters on the interface.

Xu Feng said that since last year, Shanghai huarong law firms received a total of fifty or sixty investors submitted material, together with other law firms, over a total of more than 150 cases in court.

Judgments of first instance makes the case history of the a-share stock first investor won a claim of insider trading case. Lawyers believe this will also fill some gap in judicial, for subsequent securities and Futures laws amended to provide valuable experience.

11:05 August 16, 2013, Everbright securities ETF (Exchange Traded Fund) Shen foreclosure arbitrage transactions, because of a program error, causing the system to purchase stocks 23.4 billion yuan, and sold a 7.27 billion yuan, causing fluctuations in stock. Everbright securities in the case of failure to disclose in the afternoon trading by short selling stock index futures and selling ETF hedging risk. In November of the same year, the Commission finds that Everbright securities prior to the disclosure of insider information that the shares convert to ETF sold and sold short contract constitutes insider trading of stock index futures, and making penalties such as confiscation and a fine of 520 million Yuan. December 2013, the investor Everbright securities litigation corporate securities, futures, insider trading liability disputes appeal their case to the Shanghai second intermediate.

The determination of causation has been the focus of the case, is also the focus for compensation by industry for securities transactions.

Shanghai second intermediate court thinks, "Everbright securities insider trading period, the 50ETF, 180ETF if the plaintiff investor and stock, IF1309, IF1312 and its main trading company and Everbright securities insider trading in the opposite direction to the direction, presumption of a causal relationship. Everbright securities company compensation for investor losses caused by its fault. "

Court essentially found that insider trading insider information to make public this time to buy in order to meet the conditions of the initial so-called. Although insider trading has been formed on the morning of August 16, 2013, Everbright securities in the morning but have not carried out insider trading. Administrative penalties under the SFC found that Everbright securities by 1:00 Insider is only beginning. 2:22 is the disclosure of insider information.

"After missing a specific applicable judicial interpretations, which is blank, so the case for civil compensation for judicial interpretation to develop subsequent insider trading will be of great significance," Xu Feng said. In his view, another important significance, "from a liability perspective, is a blow to insider trading from the field of criminal and administrative liability, extends to the area of civil liability, it should be said regarding insider trading offenders to have greater deterrent. "

Xu feng and his team combed the list of claims the stock, usually buy the 171 stocks on August 16, 2013 from 14:22 (list attached) Investor, you can file a claim.

The stock listing includes the ETF Fund correspond to the SSE 50 and SSE 180 sample stocks, Xu Feng lawyer and his team were deducted in the finishing process on suspended stocks and Everbright securities itself (Everbright securities proved 50 and SSE 180 sample stocks, and was suspended in the afternoon).

171 units are as follows:

The wilderness (600598)

Love shares 600643)

Anxin trust (600816)

Baiyun mountain (600332)

Bestv (600637)

Steel shares (600010)

Baotou steel rare-earth (600111)

Baosteel (600019)

Poly real estate group (600048)

Beijing urban construction (600266)

Bank of Beijing (601169)

City investment holdings (600649)

Chihong zinc and germanium (600497)

Chuantou energy (600674)

Chong Hing (600193)

Dalian holdings (600747)

Daqin Railway (601006)

Dec (600875)

China Eastern Airlines (600115)

Soochow securities (601555)

Fangda carbon (600516)

Founder securities (601901)

Beacon communications (600498)

Phoenix media (601928)

Foton (600166)

Fosun Pharma (600196)

Industrial and commercial bank (601398)

First city kingberry Chase (600067)

China Everbright Bank (601818)

Grand energy (600256)

Kweichow moutai (600519)

State power (600795)

State power NARI (600406)

Sinolink securities (600109)

Conch cement (600585)

Hainan Airlines (600221)

Hainan rubber (601118)

Haitong securities (600837)

Hisense electric (600060)

Offshore oil Engineering (600583) Chengdu private finance 70 finance guarantee agency

Air power (600893)

Aerospace information (600271)

Haohua energy (601101)

Hengrui medicine (600276)

Hongdu Aviation (600316)

Huadian power International (600027)

Hair share (600325)

Gorgeous family (600503)

Huaneng Power International (600011)

CR shuanghe (600062)

Huatai securities (601688)

Chinese happiness (600340)

Hua Xia Bank (600015)

Huaye real estate (600240)

Domain (600741)

Kat media (601929)

China Construction Bank (601939)

Jianghuai automobile (600418)

Jiangxi copper (600362)

Bank of communications (601328)

Gemdale Group (600383)

Kingfa (600143)

Jin Mo shares (601958)

Bbmg (601992)

Golden seed (600199)

Gem-industrial (601002)

Juhua (600160)

Kaile science and technology (600260)

United States pharmaceutical industry (600518)

Orchid (600123)

Liaoning Cheng da (600739)

Lu Jia Zui (600663)

Luan ring (601699)

Luoyang molybdenum (603993)

Camel shares (601311)

Minsheng Bank (600016)

China Southern Airlines (600029)

Nanjing high-tech (600064)

Bank of Nanjing (601009)

Ningbo yunsheng (600366)

Agricultural Bank (601288)

Panjiang shares (600395)

Shanghai Pudong Development Bank (the 600000)

Qingdao Haier (600690)

Tsingtao Brewery (600600)

People's daily online (603000)

Three love the rich (600636)

Sanan Optoelectronics (600703)

31 heavy industry (600031)

Xiamen tungsten (600549)

Shandong gold (600547)

Coal International (600546)

Shanxi fenjiu (600809)

Shanghai jahwa (600315)

Shanghai pharmaceutical (601607)

Shanghai Automotive Industry Corporation (600104)

Real development (600748)

Shimao shares (600823)

First shares (600376)

Shui Jing Fang (600779)

Suzhou high-tech (600736)

The Pacific (601099)

Tebian electric (600089)

Tasly (600535)

Tongbao energy (600780)

Tongfang (600100)

Tong ren Tang (600085)

Tuopai Group (600702)

Wanhua chemical (600309)

Western mining (601168)

City of Tibet (600773)

Southwest securities (600369)

Commodity City (600415)

Xinhu zhongbao (600208)

The Xinhua insurance (601336)

Xingfa Group (600141)

Industrial Bank (601166)

Société Générale securities (601377)

Youngor (600177)

Yanzhou coal mining (600188)

Yangquan coal industry (600348)

Erie shares (600887)

Shandong yongtai chemical energy (600157)

Yutong (600066)

City, Yunnan (600239)

Zhangjianggaoke (600895)

Great Wall motor (601633)

Yangtze power (600900)

China Merchants Bank (600036)

China Merchants securities (600999)

Zhejiang medicine (600216)

And equity (600759)

Zhengzhou coal (601717)

Sinoma International (600970)

CNR (601299)

China Shipping (600150)

China electric power construction (601669)

Air China (601111)

Chemistry (601117)

China construction (601668)

China construction (601800)

China Unicom (600050)

Aluminum Corporation of China (601600)

CSR (601766)

Ping an of China (601318)

China life insurance (601628)

China Shenhua (601088)

China petrochemical (600028)

China Petroleum (601857)

China's hydropower (601669)

China Pacific insurance (601601)

China Railway (601186)

China satellite (600118)

The Bank of China (601988)

China railway group (601390)

Cosl (601808)

China Aviation electronics (600372)

The aircraft heavy machine (600765)

Heng holdings (600252)

Chinese enterprises (600675)

Zhongjin gold (600489)

Coal (601898)

Sports industry (600158)

Iron II (600528)

China CITIC Bank (601998)

CITIC Securities (600030)

CITIC heavy industries (601608)

Chongqing Brewery (600132)

Pearl River industrial (600684)

Zijin mining (601899)

Arts shares (600770)