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Home > China Business News > China news > Gome takes legal action against ex-chairman

Gome takes legal action against ex-chairman

http://www.toocle.com/ 2010-08-10 09:37:47

  Shares of Chinese home appliance retailer Gome were suspended from trading on Thursday, pending a sensitive announcement.

  The Hong Kong listed company announced late Thursday that it would take legal action against its former chairman Huang Guanyu, seeking compensation for an alleged breach of fiduciary duties.

  Huang, once China's richest man and founder of Gome, was sentenced to 14 years in jail in May for bribery and insider trading.