The civil compensation results for the fraudulent distribution case of the new third board company Blue Mountain Technology have been released. First Finance learned from the attorney representing the case that the Beijing Financial Court handed down a first instance judgment in the Blue Mountain Technology Securities misrepresentation liability dispute case. Hualong Securities, ZTE Caiguanghua, Tianyuan Law Firm, and Kaiyuan Asset Evaluation were jointly and severally liable for 40%, 40%, 20%, and 3% respectively. At the same time, the two insurance agents of Hualong Securities were also required to bear 40% joint liability. This is the first time in a securities investor claim case where insurance assumes joint and several liability on behalf of an individual. The industry expects that as supervision becomes stricter, there will be more and more cases where individuals such as directors, supervisors, and insurance agents will be listed as defendants and jointly and severally liable.

Zhitongcaijing · 07/01 10:17
The civil compensation results for the fraudulent distribution case of the new third board company Blue Mountain Technology have been released. First Finance learned from the attorney representing the case that the Beijing Financial Court handed down a first instance judgment in the Blue Mountain Technology Securities misrepresentation liability dispute case. Hualong Securities, ZTE Caiguanghua, Tianyuan Law Firm, and Kaiyuan Asset Evaluation were jointly and severally liable for 40%, 40%, 20%, and 3%, respectively. At the same time, the two insurance agents of Hualong Securities were also required to bear 40% joint liability. This is the first time in a securities investor claim case where insurance assumes joint and several liability on behalf of an individual. The industry expects that as supervision becomes stricter, there will be more and more cases where individuals such as directors, supervisors, and insurance agents will be listed as defendants and jointly and severally liable.