Protection center to file Tatung suitBy Kao Shih-ching / Staff reporterThe Securities and Futures Investors Protection Center would file a lawsuit for an order to dismiss Tatung Co (大同) chairwoman Lin Kuo Wen-yen (林郭文艷), as the firm has severely breached shareholders’ rights, agency chairman Chiou Chin-ting (邱欽庭) said yesterday. The center filed the suit as Lin Kuo severely breached shareholders’ rights and disrupted market order by revoking the voting rights of 27 shareholders who own a combined 53 percent stake in Tatung, Chiou said. “What Lin Kuo did was wrong and hence we do not think it was a fair election,” Chiou said. Chiou rejected Tatung’s attorney Lai Chung-chiang’s (賴中強) remark that disputes regarding voting rights are part of a firm’s self-governance. “That statement clearly indicates that Tatung knew it had no right to cancel the voting rights of its shareholders, so it needed to apply for an injunction,” he said.

Source: Taipei Times July 06, 2020 15:56 UTC