Caixin OnlineFinance & EconomicsTop Stories Finance Shareholders of Looted Firm Sue Auditor in NY Court
02.20.2013 18:39

Shareholders of Looted Firm Sue Auditor in NY Court

Lawsuit seeks compensation from China arm of Deloitte for failing to detect alleged fraud at ChinaCast Education
By staff reporter Shen Hu

(Beijing) – Ten shareholders of a Chinese company delisted from the Nasdaq have filed a lawsuit against the company's auditor in a U.S. court in New York.

They are seeking compensation equivalent to the difference between the cost of buying the shares and the present value, said Derek Feng Yiyi, chairman of delisted ChinaCast Education Corp.

We hope you have enjoyed your free articles for the month
REGISTER to get 5 more free articles, or SUBSCRIBE to get full access to Caixin
Already a subscriber? Log in now
Sign up to receive our free daily newsletter


Latest Issue
On the Cover:

Back Door Slam

Issue 102
June , 2016



Economics & Finance
Latest Issue:
Back Door Slam
U.S.-listed Chinese companies planning to switch to a mainland exchange have been targeted by suspicious regulators
Issue 102

Subscribe       |       Newsletter        |        FAQ