Civil Compensation Liability And Legal Relief Of False Statement In Prospectus

False pretences, especially false statement, in the prospectus of a company, which applies for public issue of shares, will not only go against the original intentions of the relevant laws on the open information release of listed companies, but also inevitably jeopardize the interests of securities investors. This dissertation attempts to make a study of the false statement made in its prospectus by a company applying, and then lays much emphasis on the study of the civil compensation liability and relief measures arising therefrom.The thesis includes six chapters. The first chapter is introduction, in which a brief survey is given of the prospectus and false statement on the stock market in China. The stock market is a market where the participation of many subjects is involved. Rights and obligations of these subjects are all performed around information release. The prospectus is not only the prelude to information release for a listed company, but also serves as the provisions for rights and obligations of the would-be listed company. Therefore, it is the core of stock supervision in all countries. If false statement is made, and no effective corrections and compensation are to be given, not only the interests of the investors will be jeopardized, but also the development of stock marker will confront severe hindrance. In this chapter, a study is made of the basic theory of false statement.The second chapter, a detailed analysis is attempted of the civil liability subject and relief subject concerning the false statement in the prospectus. In accordance with the stock law in China, the civil subjects who shall bear the responsibility of false statement include the promoter, the issuer and its director, supervisor and manager liable, the stock underwriter and its director, supervisor and manager liable, and also such professional intermediary agencies as accountant offices, assets appraisal institutions and law offices, and their personnel liable involved. At the same time, an exploration is made into the scope of the subjects of relief.The third chapter focuses on the procedural realization mechanism of civil liability concerning false statement in the prospectus. In accordance with the characteristic of "petty payment and large number" of civil liability on stock market, this chapter puts forward feasible solutions to the proxy procedural system. In addition, with an aim to solve the problems of the realization of the civil remedy liability arising from false statement, the thesis also comes up with some tentative ideas on the establishment of procedural undertaking system.The fourth chapter deals with the adjustment and legal principles of the sum of civil remedy due to the false statement in the prospectus. The stock market is a high-risk capital market. The rapid flow of capital presents great difficulties to the evidence collection, liability cognizance, scope definition, and loss adjustment of civil compensation. At the same time, the imperfection of laws and regulations and the constant change and development of the market have by far made most of the stockholders, who suffer losses due to the false statement have by far made most of the stockholders, who suffer losses due to the false statement hi the prospectus, unable to obtain corresponding compensation and relief. This chapter, in accordance with the current system of issue and deal, and the relatively perfect remedy mechanism abroad, makes an exploration into the definition of civil compensation liability and the calculation of losses.The fifth chapter lays emphasis on the legal relief of false statement in the prospectus. Legal relief of false statement is expounded on from the following perspectives. First, the nature of civil liability arising from false statement. The author believes that, although under the circumstance of the existence of contract, false statement in the prospectus is a kind of contract liability. Under most circumstances, as for the nature of civil liability arising from false statement, it is imperative to establis...