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China Makes Investor Class Actions Easier in Crackdown on Corporate Fraud

insurancejournal.com

China wants its army of mom-and-pop investors to take corporate fraudsters to task with landmark class action lawsuits, but heavy government involvement means they are not likely to be as common as in other legal systems, lawyers and investors said. The legal framework, which follows a series of scandals and official vows to crack down on corporate malfeasance, is the latest move to deepen and improve capital markets in China, where 80% of trading is conducted by retail investors...

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