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China Lighting Equipment Group Feilo Acoustics to Pay $45 Million to More than 2,000 Investors in China First Class Action Lawsuit, Feilo Acoustics Wrongly Stated Revenue & Income Growth in Interim Report in 2017, Lawsuit Started in 2020 by 34 Investors in 2020 August, China New Class Action Law Implemented in 2020 July Allowing Investors to File Lawsuit Against Corporate Misconduct
6th April 2024 | Hong Kong
China lighting equipment group Feilo Acoustics has been ordered (Shanghai court) to pay $45 million (CNY 329 million) to more than 2,000 investors in China first class action lawsuit, with Feilo Acoustics wrongly stated revenue & income growth in interim report in 2017 (share price increased for 3 days after issuing report). The lawsuit had started in 2020 by 34 investors in 2020 August. China new class action law was implemented in 2020 July, allowing investors to file lawsuit against corporate misconduct.
“ China Lighting Equipment Group Feilo Acoustics to Pay $45 Million to More than 2,000 Investors in China First Class Action Lawsuit, Feilo Acoustics Wrongly Stated Revenue & Income Growth in Interim Report in 2017, Lawsuit Started in 2020 by 34 Investors in 2020 August, China New Class Action Law Implemented in 2020 July Allowing Investors to File Lawsuit Against Corporate Misconduct “
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China Lighting Equipment Group Feilo Acoustics to Pay $45 Million to More than 2,000 Investors in China First Class Action Lawsuit, Feilo Acoustics Wrongly Stated Revenue & Income Growth in Interim Report in 2017, Lawsuit Started in 2020 by 34 Investors in 2020 August, China New Class Action Law Implemented in 2020 July Allowing Investors to File Lawsuit Against Corporate Misconduct
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