Legal Analysis Of False Statement Case Of Fang Zheng Technology Securities Dispute

Since China’s first securities law was enacted at the end of 1998,it has been more than 20 years.During this period,with the rapid development of China’s socialist market economy,China’s securities law has been revised several times,constantly being improved and perfected.As the securities market has certain risk,for investors,some are small and medium investors,the protection of their legitimate rights and interests has been paid more and more attention.As one of the most important subjects in the securities market,the securities investors play an important role in the securities market.Therefore,it is of great significance to protect the legitimate interests of small and medium investors by studying the infringement of false statement of Fang Zheng Technology Company in this case.The author explores the false statement case of Founder Technology Securities dispute from the perspective of protecting small and medium investors in China,sorted out the four disputed points of the case,on this basis,it analyzes the common false statements in the practice of securities disputes.The author starts from the focus of the case,but is not limited to the focus of the case,as the first case of demonstration judgment on securities disputes in China,this case has the characteristics of representativeness and demonstration in dealing with group securities disputes.Therefore,the author selects the four major legal issues involved in this case,the identification standard of misstatement behavior,the factors to consider the causality of misstatement,the risk calculation of securities market system and other factors analysis,and investor loss compensation calculation method selection.This paper studies the above four legal issues,and then puts forward corresponding solutions.As for the calculation of investors’ compensation for losses,we should adopt a prior point of view to identify investors’ loss margin,uniformly calculate the system risk of the securities market,and deduct other factors other than the system risk as appropriate.In the aspect of the protection of the plaintiff in the model judgment,the selection standard of the plaintiff should be established,the participation right of the plaintiff in parallel cases should be guaranteed,and the mediation compensation scheme should be introduced.Finally,starting from China’s judicial practice,in the specific application of securities law and relevant judicial interpretation,the court’s decision will be very different depending on the theory used.Therefore,in the case of infringement of false statement in securities disputes,it is necessary to adopt a unified solution when the same or similar circumstances occur,it is not only in line with the spirit of securities legislation,but also can better protect the legitimate rights and interests of small and medium-sized investors.