Foshan Lighting’s appeal for false statement will enter the second instance

Due to the dissatisfaction of the securities misrepresentation liability dispute, Foshan Lighting and 7 appellants who were absent from the first-instance judgment filed an appeal. On the evening of December 3, the company announced that it had received the “Certificate of Delivery” and “Civil Appeal” from the Guangzhou Intermediate People's Court. The legal documents of the case, the case will enter the second instance.

According to the announcement, the seven appellants requested to revoke the civil judgment issued by the Guangzhou Intermediate People's Court (2013) Suizhong Fajinminchu No. 5, requesting Foshan Lighting to pay 1.524 million yuan and paying the first and second trial costs. Foshan Lighting has also appealed according to law because it refused to accept the above judgment.

According to reports, Foshan Lighting was sued for “securities misrepresentation disputes” and received a judgment from the Guangzhou Intermediate People's Court on November 15. In the above 930 cases, it was required to compensate the plaintiffs for a total of RMB 59.312 million. However, according to the disclosure of online media, the Guangzhou Intermediate People's Court issued a verdict on November 14, but Foshan Lighting and Attorneys did not receive a notice to participate in the trial. The company said that the losses involved in the litigation case will have a significant impact on the current profit.

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