China Evergrande Group (HK:3333) has released an update.
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China Evergrande Group, currently in liquidation, has initiated legal proceedings to recover approximately $6 billion from former executives and associated entities, based on allegedly misstated financial statements from 2017 to 2020. The company’s liquidators have secured injunctions to prevent asset disposals by the defendants, with trading of the company’s shares suspended indefinitely since January 29, 2024. Investors are cautioned to exercise care when dealing with the company’s securities.
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