Home / Business / Companies

China's Wuliangye faces class action lawsuit

Xinhua | Updated: 2013-06-05 09:27

SHENZHEN -- More than 150 people have collectively filed a lawsuit against China's Wuliangye, the company said in a statement on Tuesday.

They are seeking over 19 million yuan ($3.1 million) in compensation from the distillery, it said.

The plaintiffs have accused the Shenzhen Stock Exchange-listed company of "false representation," as a sanction against Wuliangye was meted out by China's securities watchdog in 2011.

In a report about the sanction, the China Securities Regulatory Commission said that Wuliangye omitted or failed to immediately disclose several issues that could affect investors.

Don't miss

Chinese liquor makers have reason to cheer

Chinese liquor prices drop ahead of Spring Festival

Wuliangye raises prices amid shares fall

Ups and downs of Chinese liquor industry

Liquor maker Wuliangye sees robust Q3 profit growth

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349