Date
20 July 2018

Investors face uphill for trading blunder damages, paper says

Investors have only a slim chance of winning a collective compensation claim against Everbright Securities Co. Ltd. (601788.CN) over trading irregularities that triggered a sharp jump in the Shanghai Composite Index on Aug. 16, the Beijing Youth Daily reported Tuesday. Despite the China Securities Regulatory Commission saying earlier that investors could file a civil compensation suit against the securities company, courts in Guangzhou and Shanghai have either rejected or marked the cases as pending, the report said. Several unnamed lawyers said that even if the cases were heard, the chance of investors succeeding in such claims was remote because China does not have any judicial interpretations for similar suits, the report said.

– Contact HKEJ at [email protected]

EL/AC/SK

 

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