A court in Guangdong, China decided to hear cases filed against Misho Ecology & Landscape for securities misrepresentation, according to a Tuesday filing by GF Securities (HKG:1776, SHE:000776) with the Hong Kong Exchange.
The case stems from the 2018 non-public issuance of shares project, of which GF Securities was the sponsor and lead underwriter, the filing said.
Twelve investors filed claims valued at about 949,602.89 yuan against the civil engineering firm, GF Securities, and other defendants, the filing said.
GF Securities has yet to determine the impact of the case on its financials, the filing said.
Misho Ecology was delisted from the Shenzhen Stock Exchange in September due to the devaluation of its shares.
Shares in GF fell 1% in Hong Kong during Tuesday's midday trading.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。