I. Scope of Application
These guidelines apply to securities fraud liability disputes initiated by small and medium investors.
II.Materials Required for Filing a Securities Misrepresentation Liability Lawsuit
1.Complaint
Refer to the Civil Complaint Form for Securities Misrepresentation Liability Disputes jointly distributed by the Supreme People's Court, the Ministry of Justice, and the All-China Lawyers Association. Electronic templates of the Complaint Form can be downloaded via:
- The "People's Court Online Service (National Edition)" WeChat mini-program: All Features > Tools > Model complaint and defense pleadings for certain cases .
Electronic forms also can be downloaded by scanning the QR code:
- The "AnHuTong Platform" on WeChat: Litigation Services > Apply For > More> Model complaint and defense pleadings for certain cases
Key elements of Securities Misrepresentation Liability Lawsuit Complaint:
(1) Plaintiff and Defendant Information:
For individuals: name, gender, workplace, position, domicile, and contact details.
For legal persons or other organizations: name, domicile, and details of the legal representative or principal officer.
If the plaintiff is an investor's heir, the heir's status shall be specified.
(2) Claims:
Specify the claims for damages, including: investment value differential losses; commission and stamp duty losses. If claiming joint liability, the scope of joint liability shall be defined.
(3) Facts and Grounds:
Including specific circumstances of the defendant's misrepresentations, the reasons for the materiality of the misrepresentations, and the fact that the plaintiffs traded and suffered investment losses as a result of the misrepresentations.
Specific circumstances of the defendant's misrepresentation acts, type, content (involved account subjects, reporting dates, etc.), relevant disclosure materials, whether there are any regulatory determinations and penalties, etc.
Specify key dates: misrepresentation date, disclosure date, correction date, and benchmark date.
Calculate losses under the "Loss Details" section.
For joint liability, explain the roles of liable parties in the misrepresentation.
(4) Signature and Date: Signed by the plaintiff.
2.Identity and Authorization Documents
(1) Identity Proof:
Plaintiff: ID card or equivalent.
Defendant: For legal person or other organization, provide business registration information (via National Enterprise Credit Information System).
Investor's heir: Submit a notarized certificate or other identification materials proving the heir's identity and inheritance of claims.
(2) If close relative is appointed as an agent, the power of attorney (contains identity of principal,agent,scope of proxy),agent's identification material (ID card or equivalent), and proof of kinship (the same household register or certificate of household registration issued by the public security authorities, etc.) shall be provided.
(3) If a lawyer is appointed as an agent, a law firm letter, power of attorney, and lawyer's license shall be provided.
(4) Fill in the address confirmation form for service of process and a confirmation of the receipt of return of litigation costs in a prevailing case.
3. Evidence
(1) Transaction Records and Loss Proof: Securities transaction records (obtainable from securities firms).
(2) Evidence of the issuer's (e.g. listed company) or other information disclosure obligor's misrepresentation.
Note: Plaintiffs submitting materials via online platforms (e.g. official website and WeChat account of Shanghai Financial Court's Investor Protection Portal, "People's Court Online Service (National Edition)" WeChat mini program) are exempt from in-person verification. For mailed cases, agent online filing cases and agent on-site filing cases, plaintiffs must verify identity in person or online, or submit notarized identity documents (notary certificate issued by a notary public attesting to the true identity of the plaintiff or certificate of household registration issued by the public security authorities).
III. Competent Courts for Securities Misrepresentation Liability Disputes Cases
1. Cases fall under the jurisdiction of Intermediate People's Courts in provincial capitals, municipalities, or special economic zones where the issuer is domiciled; if the issuer (listed company) is based in Shanghai, the Shanghai Financial Court has jurisdiction.
2. Cases involving companies listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange are handled by the Shanghai Financial Court.
3. Special representative actions shall be heard by Intermediate People's Court or specialized People's Court in the place where the stock exchange, on which the securities involved are listed, is located. For special representative actions involving securities listed on Shanghai Stock Exchange, the Shanghai Financial Court has jurisdiction.
IV. How to file a case with the Shanghai Financial Court
1.Online Filing: Shanghai Financial Court's Investor Protection Portal, "People's Court Online Service (National Edition)" mini-program.
2.Mail Filing: Send materials (including complaint, identification materials, evidentiary materials, etc.) to the Case Filing Division of the Shanghai Financial Court (611 Qiancheng Road, Shanghai, label the envelope with "Complaint Materials").
3.On-site Filing: Visit the Litigation Service Center (611 Qiancheng Road, Shanghai) with originals of ID, complaint, and identification materials, evidentiary materials, etc. Use the Securities Investor Protection Chamber if precedent cases exist.
V. Consultation Channels
For inquiries, please contact Shanghai Financial Court Investor Hotline 021-33029898 ext. 9999 or 12368 Litigation Service Hotline.
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