Misrepresentation In Securities Civil Compensation For Loss Of Measurement Issues In Research

More and more listing company's misrepresentation appeared presently such as the case of "HongGuang","YingGuangXia" and "HangXiaoGangGou".The reason why misrepresentation has been appeared felled into to character.From the opinion of legislation,securities law is not perfect enough.And from the opinion of economic,presently more and more company need to listing to finance.The lack of internal supervision,it is very easy that company make an representation for listing it's stock.World Communication-former world biggest communicated company has been disclosing misrepresentation in 2002,shock the USA stock market and promote state consul issued Sarbanes-Oxley Act immediately.State government start to supervising public company severely.Thesis on essence of liability of misrepresentation is not unified,but the author preferred thesis of invade privacy.From thesis of invade privacy is advantageous than other thesis cause more plaintiff can be sued and make damage of plaintiff come true.The relationship of misrepresentation and invade privacy is the relationship of special and normal,so the basic thesis of invade privacy can be available.Author insist that misrepresentation tort the property rights and expectant right.U.S.A confirmed "true value method" to measure the loss of misrepresentation,via measure stock true value to measure the damages. Via "price reflecting method" and "constancy of true value method" to compute the true value.But author proposed that above two thesis has its own shortcoming,so the conclusion is not logical.On 9^th Jan,2003,Supreme Court issued "Judicial interpretation misrepresentation in stock market" which set out measurement of misrepresentation damages specifically.Our country adopted the measurement of transaction spread according to our social conditions such as ability of judge and lack of expert witness and so on.But this measurement did not show us the method how to compute in-and-out average price of stock.Not misrepresentation is only a legal issue,but also is a economic and accountant issues.Author want to contrast between different thesis and regulations to raised own opinion to promote researching this issues.