Analysis Of The Case Of Dispute Between Lu Yuebao And Founder Technology Securities False Statement

This article is based on the identification of false statements,the judgment of the causality of false statements,and the deduction of market system risks.,To sort out the legal concepts of securities information disclosure obligations and securities false statements,and compare Founder Technology’s financial statement data with legal regulations.It is believed that Founder Technology ’ s behavior meets the characteristics of the materiality and illegality of false statements and should be considered as false statements;To sort out the criteria for determining the causality of false statements,and introduce the three dates related to the determination of the causal relationship of the false statement-the implementation date,the disclosure date and the reference date.Analyze the causal relationship between investors ’ stock transactions,losses suffered by investors,and misrepresentations based on the three relevant dates identified by Founder Technology ’ s behavior,.Because Founder Technology’s misrepresentation led investors to believe that Founder Technology’s stock price would rise and purchases,and there was a substantial decline in the stock market in the second half of 2015 and A-share circuit breakage in 2016.Therefore,there is a causal relationship between the false statement and the investor’s purchase of Founder Technology,and there is a partial causal relationship with the investor’s loss;To sort out the legal definition and calculation method of market system risk.At present,the identification of market system risk is mainly based on the identification of standards that have a significant impact on the stock market,The calculation methods mainly include event method,absolute proportion method,relative proportion method and synchronous index comparison method based on relative proportion method,and deductions should be made in the calculation of damages.The decline in profits caused by Founder Technology is not a market system risk and should not be deducted.Through the above analysis,In response to my country ’ s current misrepresentation principles and insufficient re-supervision,it is proposed to change the principle of liability of senior management to strict liability,and to increase the penalties for violations of regulatory agencies.Regarding the problem that the scope of causality is too small,it is proposed to correctly distinguish the types of causality,and to include the stocks sold before the disclosure date for the purpose of stop loss into the causality of the transaction.Regarding the problem of unclear identification standards for systemic risk in my country’s current market,it is proposed that the law shall make a unified judgment method instead of general regulations.In terms of calculation,it is proposed that after the court has determined that there is a market system risk,it will be handed over to artificial intelligence to specifically calculate the deduction ratio for each investor.