The Application of Event Analysis Method in Securities False Statement Damage Compensation Litigation
The discussion of existing theories on the judgment of the significance of securities false state-ments,the establishment of causal relationship,and the calculation method of the loss difference stays in the introduction to comparative method and the calculation framework at the macro level;without any quantitative analysis in combination with empirical research methods in the securities field,or proposition of a more scientific and refined reference method for its civil liability disputes.The current Securities Law and its judicial interpretations of China calculate the investor's losses in the false statements of securities with the method of substracting average selling price or the benchmark price from the average purchase price and then multiplying the answer by the number of stocks that can be claimed,but the calculation of the average purchase price is not clearly stipulated,which leads to different calculation methods in judi-cial practice,resulting in huge differences in final calculation.The court shall allow the litigants to use the event analysis method to calculate the losses caused by false statements.The event analysis method is an empirical research method that uses the reaction of stock price to quantify losses,which is accurate,direct and fair.The event analysis method can be used to calculate the true price of the stock at the time of trading,which can solve the problems in the calculation of investors'trading losses through false state-ments.
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维普
