HSS, investors settle disclosure suit

SHANGHAI: Individual investors in steel company Hangxiao Steel Structure (HSS) and the Shanghai-listed firm have settled a lawsuit, ending a two-year tug-of-war.

That marks a big victory for the investors who have suffered losses due to some information disclosed by the company which later turned out to be false.

According to Song Yixin, the plaintiff attorney, 118 investors will receive a total of approximately 4 million yuan as cash compensation before the end of June. And the other nine investors will be dealt with on a case-by-case basis.