MsEco(SZ:300495) Zheng Quan Ri Bao Zhi Sheng·2025-05-16 10:43Core Points - Shenzhen Intermediate People's Court has ruled that 33,324 investors are qualified plaintiffs in a securities false statement liability dispute involving Meishang Ecological Landscape Co., Ltd. This marks the first time a court has confirmed qualified plaintiffs through a hearing process in a special representative lawsuit [1] - The lawsuit was initiated by the Investor Protection Agency under the China Securities Regulatory Commission, representing investors in a collective action. The court announced the rights registration for special representative lawsuits on December 31, 2024, and the Investor Protection Agency submitted the list of rights holders to the court [1] - On April 28, 2025, the court held a public hearing to determine whether disputed investors were qualified plaintiffs. It concluded that professional institutional investors do not fall under the special protection of the representative lawsuit system and are not qualified plaintiffs [2] Summary by Sections Legal Proceedings - The Shenzhen Intermediate People's Court confirmed the qualification of 33,324 investors as plaintiffs in a special representative lawsuit against Meishang Ecological Landscape Co., Ltd. This decision was made through a hearing process, which is a first in this context [1] - The court's ruling fills a procedural gap in the special representative lawsuit system, establishing a standard that excludes professional institutional investors from being qualified plaintiffs, thereby focusing on the protection of retail investors' rights [2] Institutional Involvement - The lawsuit is backed by the Investor Protection Agency, which represents investors in collective actions. The agency has been proactive in identifying rights holders and submitting their information to the court [1] - The court's decision to exclude professional institutional investors from the qualified plaintiff list emphasizes the need for a clear distinction between retail and institutional investors in the context of investor protection [2]