全国首例！董监高承诺增持却一股没买，被判赔偿近80万！

Core Viewpoint - The Shanghai Financial Court ruled that two executives of Jinmoutai Chemical Co., Ltd. must compensate investors for losses due to their failure to fulfill public shareholding commitments, marking a significant legal precedent under the revised Securities Law of China [3][10]. Group 1: Case Background - The case is the first securities infringement dispute since the 2019 revision of the Securities Law, arising from the failure of company executives to fulfill public shareholding commitments [3]. - The court ordered the defendants, Yuan and Luo, to jointly compensate investor Liu for 506,100 yuan and investor Zheng for 277,400 yuan [1][10]. Group 2: Legal Implications - The case utilized a demonstration judgment mechanism, highlighting the application of Article 84 of the new Securities Law, which mandates disclosure of public commitments and imposes civil liability for non-fulfillment [3][10]. - The court emphasized that the nature of public commitments and the circumstances surrounding their non-fulfillment must be considered to determine if they constitute securities fraud [9][10]. Group 3: Details of the Commitment - In June 2021, Jinmoutai announced that its executives planned to increase their shareholding by at least 300 million yuan within six months, but they failed to fulfill this commitment, leading to regulatory actions against them [4][5]. - The plaintiffs argued that their investment decisions were based on the executives' public commitments, which they claimed constituted securities fraud due to the lack of follow-through [7][10]. Group 4: Court's Findings - The court found that the defendants did not have the necessary funds when they made the commitment and failed to actively seek funding during the extension periods, indicating a lack of genuine intent to fulfill the commitment [10]. - The court ruled that Jinmoutai was not liable for the defendants' actions, as it had fulfilled its disclosure obligations and had no knowledge of the executives' fraudulent intentions [10].