上市公司重大事件虚假陈述纠纷主要争议焦点及实务建议

Main Dispute Focus and Practical Suggestions on False Statement Disputes of Major Events in Listed Companies

在上市公司重大事件虚假陈述所引发的民事赔偿纠纷中,对重大事件的评价依据、虚假陈述行为过程的认定以及证券市场系统性风险的识别等,往往成为该类案件的主要争议焦点。对于虚假陈述行为或市场系统性风险等因素影响力大小的推定,往往决定案件的裁判结果。因当前缺少统一明确的裁判尺度,导致各地的裁判差异较大,人民法院对之前的司法解释应及时修订完善。对该类案件的诉讼代理,特别为投资人维权,亦应注重务实和效率。

In the civil compensation disputes caused!by false statements of major events in listed companies,the evaluation basis of major events,the identification of the process of false statements and the identification of systemic risks in the securities market often become the main controversial focus of such cases・Major events are significant because they have a significant impact on the market,but the factors that can have a significant impact on the market vary.The presumption of the influence of such factors as false statements or systemic market risks often determines the outcome of a case・Due to the lack of uniform and clear judgment criteria,the judgments vary greatly from place to place.The people's court should revise and improve the previous judicial interpretation in time.The litigation agency in such cases,especially for investors,should also pay attention to pragmatism and efficiency.