Tatung Company

11/25/2021 | Press release | Distributed by Public on 11/25/2021 07:23

The company reached a successful settlement for the civil action of disgorgement on Nov. 25, 2021.

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Provided by: TATUNG CO.
SEQ_NO 1 Date of announcement 2021/11/25 Time of announcement 21:17:03
Subject
 The company reached a successful settlement for
the civil action of disgorgement on Nov. 25, 2021.
Date of events 2021/11/25 To which item it meets paragraph 2
Statement
1.Parties to the legal matter:
The plantiff is Tatung Comapny.
The defendants are listed as follows:
 (1) Shanghai Longfeng Enterprise Group,
 (2) Ren Guo Long,
 (3) Longfeng CO.,
 (4) Ren Zih Ling,
 (5) Art Glory Investment Limited,
 (6) VHome Property Services Limited,
 (7) Ding David.
2.Name of the court or punishing agency of the legal matter:
 Taiwan Taipei District Court
3.Reference/Case number of relevant documents of the legal matter:
 Taiwan Taipei District Court 108 Jin Zih No. 37
4.Date of occurrence of the event: 2021/11/25
5.Details of occurrence (including the matter under dispute):
 Based on the official fined notifications of Jin Guan Jheng Chyuan Fa Zih
 No. 1060016439 on May 5, 2017, Jin Guan Jheng Chyuan Fa Zih No. 1060047317
 on Dec. 5, 2017 and Jin Guan Jheng Chyuan Fa Zih No. 1080301297 on Jan. 17,
 2019 made by FSC, BOD on Jan. 29, 2019 made the resolution to file the civil
 action of exercising the right of disgorgement for amount of NTD 188,160,320
 according to Article 157 of Securities and Exchange Act. The amount claimed
 was expanded to NTD 1,225,988,645 on July 19, 2019 as per the official
 letter of Jheng Bao Fa Zih No. 1080002595 on June 21, 2019 made by SFIPC
 afterwards however partial amout of NTD 443,265,434 has time-barred up till
 June 21, 2019 as said in the letter.
6.Handling procedure:
 The court seeked to settlement today. Both parties reached a successful
 settlement on Nov. 25, 2021 upon the court's advice and litigants'
 evaluation to the litigation.
 The defendants agreed to pay NTD 100 million to plantiff by Dec. 31, 2021.
7.Impact on the Company��s finance and business and projected amount: None.
8.Countermeasures and improvement status: None.
9.Any other matters that need to be specified: None.