Foshan Lighting’s Deceptive Financial Statement Case Enters Second Trial

The seven plaintiffs involved in the Foshan Lighting’s misleading financial statement case received notices on Thursday from the Guangzhou City Intermediate People's Court that the case has entered second trial, according to a report.

In the complaint filed, plaintiffs requested for the revoke of an earlier ruling by the Court, which demanded Foshan Lighting to compensate RMB 1.52 million (US $200,000) and cover litigation fees involved in the first and second trials.

Total compensation involved in the 930 misleading financial statement cases filed against Foshan Lighting amounted to RMB 59.31 million. According to other media reports, the court announced its ruling on November 14, but the company lawyers were not informed about the trial time. The company has announced the lawsuit and related losses will have a huge impact on its profits this quarter. 

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Streetlights and high-bay fixtures require high flux and efficacy to meet the ever increasing demands for system efficiency and energy cost reduction for these applications. Today, LUXEON 5050 LEDs received an upgrade in both flux and efficacy... READ MORE

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE