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According to media reports, on August 1st, East China time, Rosen Law Firm, Pomerantz LLP, Law Offices of Howard G. Smith, Faruqi & Faruqi LLP, The Schall Law Firm and Bronstein, Gewirtz & GrossmanLLC announced the investment The group launched a class action lawsuit to recover the losses suffered by investors.
Faruqi & Faruqi LLP issued a statement on its official website stating that the company is investigating potential claims against a large number of investors and encouraging investors who have lost more than $50,000 to contact the company. The statement is accompanied by a link to purchase an investment in the stock market. Fill in the information and join the lawsuit.
Pomerantz LLP said it would investigate whether some of the members or directors who participated in the fight were involved in securities fraud or other illegal business practices.
On August 3, Pomerantz LLP replied to the 21st Century Business Herald reporter's paper on the class action lawsuit.
According to the litigation documents, the company has made a serious false and misleading statement on the company's business, operations and compliance policies. Specifically, the third-party suppliers selling counterfeit goods on the platform indicate that the supervision is not effective. Therefore, a lot of public statements in the corresponding time are accompanied by substantial errors and misleading.
The reason for the class action is that the damage suffered by individual investors may be relatively small, and the costs and burdens of individual litigation cannot separately correct the mistakes of the fight. The litigation documents stated that although the exact number of plaintiffs is still unclear, it is believed There are hundreds or thousands of victims.
On August 3, Shanghai Justice Law Firm Yu Yu explained to reporters that the concept of class action does not exist in China. The US class action lawsuit refers to any person who has similar internal conditions to the plaintiff after the class action is filed. You can participate and automatically enjoy the winning result. 'For the fight, the classsuit is facing a great threat.'
'In the United States, the winning rate of class actions is relatively high. Personally, in this class action, the possibility of losing more claims is higher, or a settlement is proposed. Once lost, the amount of compensation for class actions is relatively large. The lawyer who studies the capital market said.
The lawyer said that 'there is a platform for the sale of products involving infringement, and it also has certain responsibilities. In this regard, the information disclosed by the company is not sufficient, and it violates the relevant regulations of the US stock market.
The litigation documents were concerned. On the morning of August 1, the voice of the China Municipal Supervisory Administration of China had a greater impact on the stock price. In this news, the share price of the market was down by 10.09%. The lawsuit said, 'Because the defendant Misconduct and misconduct led to a sharp decline in the value of the company's securities market, and the plaintiff's peers suffered significant losses and damages.
According to public information, the above six law firms are better at class actions. Previously, Pomerantz also announced a class action lawsuit against red, yellow and blue.