A court in Nanjing, China, ruled that a litigation case filed against Jin Tong Ling Technology (SHE:300091) for investment losses could proceed, according to a filing by independent financial adviser Everbright Securities (HKG:6178) with the Hong Kong Exchange.
Ten complainants have filed compensation cases against Jin Tong Ling and other defendants, including Everbright Securities, for investment differential losses, commission, and stamp duty losses worth 756,378.46 yuan, the filing said.
Meanwhile, Everbright said the impact of the case on the company has yet to be determined, according to the filing.
Shares in Jin Tong Lin plunged 8% during Tuesday's trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.