英语论文网

the court rejected the plaintiff Jiang Shunzhen the indictment.

Judging from the plaintiff 's complaint , the plaintiff claims including for violations , damage, behavior and the causal relationship between damage exposition . The court "can not determine the plaintiff's loss was directly caused by the defendant 's false statement " as one of the main reasons the court rejected the plaintiff sued , that the Court does not have causal relationship to deny plaintiff's claim on the grounds . Visible , causality has become a case decided misrepresentation damages the core of one of the factors judge the results . Jiang Shunzhen took place in the "Securities Law " prior to the tort claim for damages as a basis to seek civil remedies . Case can be directly invoked provisions " prohibit securities fraud Measures " on page 23 : "Implementation Fraud , causing losses to investors , it shall be liable for compensation ." According to the same Act 2 , in which " fraud behavior "including" securities issuance , trading and related activities in the insider trading , market manipulation , fraudulent customers , misrepresentation and other acts . " Based on literal interpretation , constitute securities fraud, fraud requires civil liability , loss and causation consequences of three elements . Into force in 1999 of the " Securities Act " provisions relating to civil liability replaces the above general terms take effect . According to the "Securities Law " Article 63 and Article 161 of causation is a prerequisite for civil liability for misrepresentation .

January 15, 2002 , with the Supreme People's Court "on the admissibility of the securities market caused by misrepresentation tort disputes related issues notice" issued, securities civil partial thaw began , which several " defeated " minority shareholders launched a new round of " red " lawsuit. Mediation by the Chengdu Intermediate People's Court , China 's first securities civil disputes - 11 investor complaints original red false securities information dispute finally ended four years of marathon process . 11 investors eventually obtain total litigation target 24.8995 million yuan of 90% of the amount.

Necessary causality of judicial practice in our country still has a broad impact on the red court case ruled that false statements the company grounds in the causation argument says that this pick . In modern securities markets , disclosure of false information to investors who suffered losses and is not directly deal object of false information and the link between investment losses need to go through multiple links and multiple causal factors may be at any time or unexpected factors influence in this case if necessary causality rigidly follow the theory that investors are the most direct damage is due to sell the stock price is lower than what investors purchase price claim requests can only be a piece of paper talk .

False statements in red Case of the company , investors buy stocks suffered losses red , own many causes. Causal chain from the point of view , investors damaged most direct reason is due to sell the stock price lower than the purchase price ; while the stock price decline is itself subject to many factors, including direct reason is the red light companies are subject China Securities Regulatory Commission inv