Shareholders of Looted Firm Sue Auditor in NY Court
(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.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter