Wang Zhenhua, chairman and founder of Future Land development Holdings Limited in Hong Kong, as well as Seazen Holdings in Shanghai, during a press conference in Hong Kong on 1 August 2016. Photo: SCMP/ K. Y. Cheng
Gadfly lawyer calls for probe, class action into Seazen’s disclosure as Chinese companies’ tardiness come under spotlight
- Seazen divulged the arrest of its founder and chairman on July 4 in China, two days after the disclosure deadline under Chinese securities rules, according to Yan Yiming, a lawyer who made his name two decades ago representing minority shareholders
- Between the public complaint that led to the arrest of Seazen’s chairman and the company’s disclosure, five transactions of the company’s stock valued at 144 million yuan were recorded, Yan said
Topic |
Financial regulation
Wang Zhenhua, chairman and founder of Future Land development Holdings Limited in Hong Kong, as well as Seazen Holdings in Shanghai, during a press conference in Hong Kong on 1 August 2016. Photo: SCMP/ K. Y. Cheng