Showing posts with label Court of Appeal. Show all posts
Showing posts with label Court of Appeal. Show all posts

Wednesday, 9 November 2011

Court of Appeal upheld jail sentence on former directors of MEMS Technology

Posted by Lesen Niaga
Tags : , , , , , , , ,

Kuala Lumpur, 8 November 2011
In a landmark decision for securities cases, the Court of Appeal on Friday upheld a six months jail term imposed by the High Court on two former directors of MEMS Technology Berhad (MEMS), for authorizing the furnishing of a misleading statement to Bursa Malaysia in MEMS's Condensed Consolidated Income Statement for the 12 month period ended 31 July 2007. The two former directors of MEMS, which was delisted in November 2010, were charged in the Sessions Court in Kuala Lumpur in 2009 for the misleading statement which related to the company's reported revenue of RM73.416 million as it contained over RM30 million of sales that did not take place. 

Subscribe to: Posts (Atom)
 

Popular Posts

DISCLAIMER

The above opinion is not an invitation to buy or sell. It serves as a blogging activity of my investing thoughts and ideas, this does not represent an investment advisory service.

The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. The ideas expressed are solely the opinions of the blogger.

Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.