Thursday, December 23, 2010

81 million small shareholders claim the two Galaxy technology was no chance of winning.

<P>: Http:// News, Galaxy Technology Annual sales of 263 million inflated to conceal 270 million in bank borrowings in the first place --- to stand up surprised investors sued the Galaxy Technology (000806) After the withdrawal of false statements, and recently faced Galaxy Technology .Two minority shareholders sued, the claim amount as high as 81 million. .This reporter has learned, the two minority shareholders from Suzhou and Ningbo. .Recently, Nanning Intermediate People's Court has accepted two minority shareholders of the complaint. .It is understood that the commission by the two minority shareholders, Beijing, days of high friends and Shanghai law firm Yuan Guohua Yan Yiming Yan Yiming law firm decided to formally prosecute Galaxy Technology, the actual controller of the Milky Way Galaxy Pan Qi as well as the audit report issued by the China Science and Technology .Yin accounting firm limited liability company. .According to the two minority shareholders said they were in February 10, 2004 to buy the Galaxy technology, is read by the company in 2003 after the announcement of the annual report and other bought. .Two small shareholders, said the disclosure in 2003 annual earnings per share up 0.41 yuan, an increase of faster performance, and other financial data are better, we decided to buy and hold long term. .Even though the stock fell, and we trust in the annual report for the company, still adhere to the holding. .Who knows, since the two investors from the public disclosure of the media found, June 8, 2005, the Ministry of Finance in the "Ministry of Finance decision on administrative penalty [Financial Officer (2005) 71]" had been found in: Galaxy .Technology in the 2003 annual report inflated sales of 263 million, 270 million yuan in bank borrowings to conceal. .To this end, the two investors that the existence of Galaxy Technology Annual Report 2003, false statements, led to their own investment losses suffered, so to claim a total of 810,000 yuan Galaxy Technology. .According to Yuan Guohua counsel, including the two shareholders that 810,000 actual loss, commissions, interest and stamp duty. .In the complaint, the two small investors also asked the then chairman of Galaxy Technology Pan Qi and Yin Hua Certified Public Accountants audit institutions bear joint and several liability. .Successful grasp of the case is very large, Yuan Guohua lawyers stressed that under the relevant judicial interpretations, the Ministry of Finance of the penalty decision means that the Galaxy technology in the disclosure of annual report 2003, implemented a misrepresentation, it must compensate the two shareholders equity investment losses .. .The two claims of minority shareholders will cause the small shareholders of Galaxy Technology prosecution of collective false statement? .Yuan Guohua, said recently there are five or six small shareholders from Shandong to the Galaxy technology consulting prosecute false statements to do. .However, due to more dispersed small shareholders, it is difficult to form a collective prosecution. .Yuan Guohua reminded investors, who in February 10, 2004 (false statement in the implementation of Galaxy Technology) until June 8, 2005 (false statements to be exposed day) during the Galaxy technology investors to buy, have the right to .its prosecution. .</ P>.

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