SFC pulls lawsuit against StanChart, UBS
Hong Kong’s market watchdog has withdrawn a lawsuit filed against Standard Chartered and UBS over the 2009 IPO of China Forestry Holdings Co, although this does not mark the end of possible enforcement action, according to sources close to the matter.
The Securities and Futures Commission (SFC) named the two banks as defendants in a suit filed in the city’s High Court in January. KPMG, China Forestry and the issuer’s co-founders, Li Kwok Cheong and Li Han Chun, were also named in the suit.
StanChart and UBS were co-sponsors of
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