Summary by Moomoo AI
Evergrande Group (in liquidation) announced on August 5, 2024, that it is conducting a lawsuit and claiming a total of approximately $6 billion against seven defendants, including executive director Mr. Xu Jiayin, for dividends and remuneration paid due to financial statements claimed to be misreported during the period from 2017 to 2020. In addition, the company has obtained multiple injunctions to restrict the defendants from disposing of their global assets. Currently, the lawsuit is still ongoing, and there is uncertainty regarding the outcome and the amount that may be recoverable. Since January 29, 2024, Evergrande stock has remained suspended.
