Guolian Minsheng Subsidiary Faces Major Litigation Over Securities Misrepresentation
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Guolian Minsheng Investment Banking Company Limited, a subsidiary of Guolian Minsheng Securities Co. Ltd., is facing a major litigation over alleged securities misrepresentation, with 1,618 investors suing 15 defendants, including Shandong Longlive Bio-Technology Co., Ltd. The High People’s Court of Shandong Province has accepted the case. Guolian Minsheng Securities stated that the litigation is not expected to materially affect its financial condition or profits.
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