Brief: Serial System updates on legal proceedings

Serial System

23/02/2017 11:18

Feb 23 (Reuters) - Serial System Ltd  SERL.SI  
    * Announcement On Civil Suit 
    * Civil suit amounting to about us$3.63 million was filed by 
SFIPC on behalf of certain shareholders 
    * Civil suit has been initiated by securities and futures 
investors protection centre of Taiwan against company 
    * Board does not expect civil suit to have any material 
financial impact on group's eps or net tangible assets for fy 
ending 31 december 2017 
    * Bull Will has insured its directors and supervisors with a 
us$5 million directors and supervisors liability insurance from 
cathay century insurance 
    * Civil suit arose due to charges brought by public 
prosecutor of new Taipei district prosecutor office 
    * Suit alleged negligence in duties by Alex Wui in 
preparation, auditing and approving financial reports from q3 of 
year 2013 to q2 of year 2015 
    * Civil suit filed by SFIPC on behalf of certain 
shareholders of Bull Will Co., Ltd against Bull Will 
    * Civil suit arose due to charges brought by public 
prosecutor against Bull Will's former chairman for alleged 
financial statement fraud 
 
Source text for Eikon:  ID:nSNZby7l0J  
Further company coverage:  SERL.SI  
 
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