5 Jun 2020
CHAN LAI YIN, TOMMY AND OTHERS v. SECURITIES AND FUTURES COMMISSION AND ANOTHER
- Citation
- [2020] HKCA 425
- Court
- Court of Appeal
- Case number
- CACV104/2017
s.307A(3) preserves the listed status of securities during suspension for the application of Part XIVA but does not justify treating suspended securities as if they were continuously trading at the pre-suspension price for the materiality inquiry; the Tribunal erred in ignoring post-suspension events and in relying on expert evidence premised on a trading-assumption; the correct course is to remit the liability issues to the Tribunal to reassess whether the subject information would likely have materially affected the share price taking into account post-suspension events and allowing fresh e…