HK regulator sues 2 banks, KPMG over China Forestry IPO
Hong Kong
HONG Kong's securities regulator has filed a lawsuit against Standard Chartered Plc, UBS Group AG and audit firm KPMG LLP over an initial public offering by China Forestry Holdings Co in 2009.
The Securities and Futures Commission is seeking unspecified damages for minority shareholders related to alleged "market misconduct" by the defendants connected to China Forestry's IPO prospectus, and the company's financial statements for 2009 and for the first half of 2010, according to documents filed with Hong Kong's High Court on Jan 16.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DBS customers unable to log into Digibank, PayLah! on Thursday
Japan’s Sumitomo Corp net profit down 32% on Madagascar one-off loss
Moody's tops quarterly profit estimates on strong product demand
Hong Kong regulator brings insider trading charges against Segantii and its founder
Novartis to buy radiology specialist Mariana Oncology for US$1 billion
Moderna beats quarterly estimates as cost-cutting pares losses