19 September 2018

PetroChina, senior executives face US lawsuit, filing says

PetroChina Co. Ltd. (00857.HK) said in a stock exchange filing on Tuesday that an individual shareholder, seeking to represent other shareholders in a class action, has filed a complaint against the company with the United States district court of New York over alleged violations of US securities laws. The lawsuit is related to investigations launched by Chinese authorities into several officials of the company, the filing said. Also named respondents in the US case were former chairman Jiang Jiemin, current chairman Zhou Jiping, former chief financial officer Zhou Mingchun and incumbent CFO Yu Yibo. The company said it has yet to determine the amount involved, but will try its best to fight the lawsuit to protect its interest. Business operations remain normal, it said.

-- Contact HKEJ at [email protected]




PetroChina and senior executives sued in the U.S., filing says

PetroChina Co. Ltd. (00857.HK) said Tuesday in a stock exchange filing that it is facing a lawsuit being filed at the South District Federal Court of the New York State, United States against the company, former chairman Jiang Jiemin, existing chairman Zhou Jiping, former CFO Zhou Mingchun and existing CFO Yu Yibo. The company said it has yet to find out the amount involved in the lawsuit, but it will make the best effort to protect the legal interest of the company, reiterating that business operations are normal and that it will follow up closely on the development of the lawsuit

- Contact HKEJ at [email protected]


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