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HK regulator sues 2 banks, KPMG over China Forestry IPO

Standard Chartered and UBS were joint sponsors of China Forestry's US$216 million first-time share sale in November 2009, while KPMG was its auditor.

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...

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