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Mainland China court claims jurisdiction over Hong Kong-listed company in investor lawsuit

Business - South China Morning Post · 4d ago · 🇨🇳 China
Mainland China court claims jurisdiction over Hong Kong-listed company in investor lawsuit

A mainland Chinese court has claimed jurisdiction over an investor lawsuit against a Hong Kong-listed firm for the first time, with the move likely to increase scrutiny of corporate disclosures. Mainland investors filed the lawsuit with the Beijing Financial Court, alleging that an overseas-incorporated company had failed to disclose irregular loans, unauthorised guarantees and related-party transactions in 2017 and 2018, in violation of Hong Kong’s listing rules, according to a recent report by...

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