Chinese lighting manufacturer Foshan Electrical and Lighting announced that the company received a “voucher” and “notice of response to action” by the Guangzhou Municipal Intermediate People’s Court accepting the civil case filed against the company byt 515 people for a misrepresentation of security liability dispute.
515 people have filed legal action against Foshn for security disputes on the ground of misrepresentation. The Guangzhou Municipal Intermediate People’s Court requires the company to disclose all violations and information regarding to the civil case. The above 515 cases have a claim totaling RMB$73 billion and HK$ 81,900.
According to Foshan’s announcement, the case had already begun to enter into proceedings but has yet to be tried. Foshan will be active throughout the proceedings, but will act in accordance to provisions and schedule set out for the cases’s progression. As the case has yet to be tried, it is still unclear as to how it will affect Foshan’s monthly and quarterly profits.
