Core Viewpoint - The article discusses the first case of false statements in securities related to the New Third Board market, highlighting the collaborative mechanism between financial judiciary and regulatory bodies to mitigate financial risks [1][9]. Group 1: Case Overview - The case involves a technology company that went public on the New Third Board in December 2013, with its main broker and auditing firm providing reports that later proved to be misleading [4]. - The company faced significant issues with its internal controls, leading to a substantial drop in stock price and subsequent investigation by the regulatory authority [4][6]. - An investor, due to losses incurred from the company's shares, sought compensation of approximately 1.85 million yuan [3][4]. Group 2: Judicial Findings - The Shanghai Financial Court determined that the investor relied on market prices for investment decisions, applying the "presumed reliance principle" to establish causation in trading [6][9]. - The court differentiated responsibilities of the main broker during the stock recommendation phase and the ongoing supervision phase, concluding that the broker was liable only for the initial phase [6][9]. - The auditing firm was found to have significant deficiencies in its audit procedures, leading to a determination that it should bear 20% of the losses caused by the false statements [7][9]. Group 3: Compensation Outcomes - The court ruled that the technology company must compensate the investor for the full loss of 1.85 million yuan, while the main broker was ordered to pay 20,200 yuan and the auditing firm 242,500 yuan [7][9]. - The final judgment was upheld by the Shanghai High People's Court, reinforcing the accountability of intermediaries in securities transactions [7].

2017年8月11日，被告某科技公司董事会发布《某科技公司关于公司接受证监会调查的公告》。当日，某科技公司股票收盘价为0.31元，与8月10日收盘价持平，此 后两交易日收盘价分别为0.29元、0.23元。 2019年4月2日，股转公司发布公告称自2019年4月8日起终止某科技公司股票挂牌。 文/梧桐兄弟 近日，上海金融法院、上海证监局联合发布涉证券虚假陈述案例，其中之一为新三板做市交易证券虚假陈述中介机构责任认定——李某某诉某科技公司、某证券公 司、某会计师事务所等证券虚假陈述责任纠纷案。 新三板市场做市交易模式下，投资者依赖证券价格做出投资决策， 可以适用"推定信赖原则"认定交易因果关系。审计机构通过被审计公司收发函证，函证程序存在 重大缺陷，违反相关审计准则，应对投资者损失承担相应赔偿责任。 新三板公司的 主办券商在荐股挂牌阶段，尽职调查未勤勉尽责的，应对由此导致的投资者损 失承担相应责任；在持续督导阶段， 相关监管规定并未强制要求主办券商对挂牌期间的财务数据进行实质审查， 故券商一般无须承担责任。 一、基本案情 2013年12月13日，被告某科技公司的股票在全国中小企业股份转让系统（即新三板）挂牌公开转 ...