Study On The Case Of Kingsun Optoelectronic Co.,ltd Civil Compensation For Securuties Misrepresentation

As a barometer of the national economy and an important means to promote economic development,accurate and timely information disclosure is a necessary condition for the sound development of the securities market,as well as an inevitable requirement to protect the legitimate rights and interests of investors.As one of the main participants in the securities market,listed companies are supposed to undertake the statutory obligation of timely and accurate disclosure of information,promote information symmetry and maintain fair market transactions.However,some listed companies,for their own or related interests,often implement such as major omissions,misleading statements and other false statements.Securities misrepresentation misleads securities investors into making wrong investment decisions,causing economic losses to investors and damaging the fair trading environment of the securities market.It is an extremely serious violation of the securities law and securities trading rules.At present,for the behavior of false statement of securities,the securities regulatory department sanctions the false statement through administrative punishment,so as to maintain the security and stability of securities trading order.For relief of investors' rights and interests of damage caused by false statement in securities,the securities law of the People's Republic of China made a false statement in securities civil rights and interests protection of macroscopic legal framework,‘Provisions of the supreme people's court on the trial of civil compensation cases arising from false statements in the securities market'(hereinafter referred to as ‘provisions')with specific laws and regulations to ensure the securities of false statements in judicial practice.However,in recent years,the frequent occurrence of false statements in securities,low illegal cost and high cost of safeguarding rights have led to the emergence of new problems of false statements in securities,and the civil compensation liability mechanism for false statements in securities needs to be further deepened and expanded in judicial practice.The article takes the KINGSUN photoelectric securities false statement civil compensation as the research content,studies a series of focus issues in the civil indemnity offalse statement of securities,and puts forward countermeasures and Suggestions on improving the civil indemnity system of false statement of securities.The thesis consists of four chapters.The first chapter is the introduction,mainly including background of the subject,The purpose and significance of the topic,Research status and methods,etc.This part sorts out the current research status of scholars on false statement of securities,summarizes and summarizes the main theories and views of false statement of securities through literature review,and lays a theoretical foundation for the writing of this paper.The second part is the brief introduction of the case and the main points of the judgment.Through the case of the photoelectric false statement on duty,the summary of the case and the main points of the judgment of the first and second instance of the court are summarized,and the dispute focus of the case is extracted.Second,whether there is a causal relationship between the photoelectric information disclosure behavior on the ground and investors' losses,whether there is a causal relationship between systematic risk hindering and how to identify systematic risk;Third,if there is a cause-andeffect relationship between the misstatement behavior of KINGSUN photoelectric company and the loss of investors,how should the investor determine the amount of loss? Fourth,the securities false statement procedure question.The third part is the analysis of the dispute focus of the case by using legal principles and legal methods.The fourth part is on the basis of case analysis,combined with other typical cases of false statement of securities,put forward the establishment of false statement of securities civil compensation settlement mechanism beneficial Suggestions.This paper analyzes the frequently on photoelectric co.,LTD.,the securities false statement civil liability to pay compensation dispute,and connecting with the foshan lighting,woori holding securities such as false statement responsibility dispute and similar cases,responsibility for false statement of securities disputes in the controversial focus problems were discussed,Form relevant conclusions of securities misstatement cases,and put forward Suggestions for improvement: optimize the identification standard of misstatement,highlight the independent trial and discretion of the court,and dialectically treat the preliminary procedure;Further scientific calculation of losses,using the "general weightedaverage method" or "actual loss difference method" to calculate losses,and reasonably define the disclosure date of securities false statements.Finally,some Suggestions are put forward from four aspects of perfecting the compensation system of securities misrepresentation.