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法律如何确定虚假信息与股票下跌之间的关系?如何科学计算虚假信息引发的股票下跌与股市系统风险之间的损失额?去年以来,由纵横国际公司虚假陈述引发的14起争议总金额达400万元的民事赔偿系列案件已在江苏审结,股民粟万富一人获赔124万多元。法院在判决中首次认定了证券市场“大盘因素”即系统风险所致的损失,这在全国尚无先例。“证券市场的情况太复杂,由于现行法律没有对损失界定计算确定标准,很难讲究竟大盘会影响到个股多少。每支股票都有自己的特性,具体到某一支股票,大盘利好时也会跌,而大盘下跌时却会涨,这些情况都是有可能的。江苏省高级人民法院对‘纵横国际案’的二审判决找到一个方法,来计算大盘下挫时的持股损失,令人信服。”专家如此评价。近日,江苏省高级人民法院法官向笔者披露了这一颇受证券市场及社会广泛关注的案件审理情况。
How does the law determine the relationship between false information and declining stocks? How to scientifically calculate the loss between stock declines and stock market systemic risk caused by false information? Since 14 last year, the total amount of 14 disputes caused by the misrepresentation by A & S International amounted to 400 10,000 yuan of civil compensation series of cases have been concluded in Jiangsu, one million people Su million shareholders were awarded 1.24 million yuan. In the judgment of the court, the court found for the first time the losses caused by the stock market “broader market factor ” that is systematic risk, which is still unprecedented in the whole country. “The situation in the securities market is too complicated. Since the current law does not set the standard for calculating the loss, it is hard to tell whether the broader market will affect the number of individual stocks. Each stock has its own characteristics, specific to a particular stock and good market Will fall, but the broader market fell when it will rise, these circumstances are possible.Jiangsu Provincial Higher People’s Court on the ’vertical and horizontal international case’ second instance verdict to find a way to calculate the share loss when the broader market fell, it is Convinced. ”Experts say so. Recently, the Judge of Jiangsu Provincial Higher People’s Court disclosed to me the situation of the case, which is very popular with the securities market and society.