On May 8, 2024, the Modern Avenue (002656) investor claim case represented by Xu Feng of Shanghai Jiucheng Law firm has been applied to the court for enforcement. (lawyer Xu Feng's column)
Prior to this, the Guangdong Provincial higher people's Court had made a second-instance judgment on some investor claims caused by the first false statement, rejected the appeal on Modern Avenue, and upheld the first-instance investor's decision made by the Guangzhou Intermediate people's Court, and the investor won the case in the final instance.
In addition to the cases in which the verdict has been executed, Xu Feng's legal team is continuing to promote the filing of follow-up cases and continue to accept them.Fibaworldcupqualifiersasia2023His investor's claim entrustment.
On the evening of January 18, 2022, Modern Avenue issued a notice that the company and related parties had received the CSRC's "decision on Administrative punishment". It has been found out that the illegal facts of Modern Avenue are as follows.Fibaworldcupqualifiersasia2023:
I. failure to disclose in a timely manner and failure to disclose external guarantees in periodic reports
II. Related party transactions of non-operating funds occupied by controlling shareholders are not disclosed in the periodic report
In addition, on the evening of May 10, 2024, Modern Avenue announced that it received the written decision on Administrative punishment, and it was found out that there were the following illegal facts on Modern Avenue:
First, there are false records in the 2021 annual report of Modern Avenue.
Second, Modern Avenue failed to disclose major losses on equity investment in a timely manner.
Lawyer Xu Feng, director of Shanghai Jiucheng Law firm, believes that according to the previous judgment, investors who buy Modern Avenue shares between April 12, 2018 and January 10, 2020, and sell or continue to hold shares after January 10, 2020, there is a precedent for winning the case and can also file a claim. In addition, investors who buy Modern Avenue shares between April 27, 2022 and July 1, 2023, and sell or continue to hold shares after July 1, 2023, can also file claims to remind investors. (ST Modern Rights Portal)
(this article is contributed by lawyer Xu Feng, director of Shanghai Jiucheng Law firm, and does not represent Sina's financial position. Lawyer Xu Feng, who has been a lawyer since 2008, has been a claim agent in the field of securities fraud, such as misrepresentation, insider trading, market manipulation and so on. Over the past ten years, investors who have represented nearly 200 stocks have won the case or obtained compensation through mediation, and in the same period, they have also won or mediated claims for nearly 300 stocks within the limitation of action, and some of them have already won the case and obtained compensation through mediation. License No.: 13101200810965495)
