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Technology Stocks : PCW - Pacific Century CyberWorks Limited
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To: ms.smartest.person who wrote (1061)4/12/2001 12:28:50 AM
From: ms.smartest.person  Read Replies (1) of 2248
 
China - Be true to your school: Richard Li may face shareholder suit over Stanford controversy
2001-04-12


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[10 April 2001] Stockholders in Hong Kongare planning to file suit in U.S. or Canadian courts to sue Richard Li, president of the Pacific Century CyberWorks [PCCW], demanding compensation.

One PCCW stockholder has disclosed the formation of a group intending to file the suit against Li claiming that he allegedly misrepresented his academic record, reported the April 9 Guoji Jinrong Bao [International Finance News].

The suit contends that Lis supposed misrepresentation caused investment losses, the story said.

The groups representative said that his decision to invest in PCCW was based on Lis background, especially Lis bachelors degree in computer engineering from Stanford University. However, this man alleges that he felt misled when he discovered that Li was not in fact a Stanford graduate, according to the article.

The representative of the group explained that potential litigants formed their group on March 26 of this year and plan to enlist at least 100 small PCCW stockholders. If and when that number is reached, the group will file suit in the United States or Canada and seek compensation, the story said. ChinaOnline, 2001. All Rights Reserved. For more information, visit chinaonline.com.

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Copyright© 2000 LEXIS-NEXIS, a division of Reed Elsevier Inc. All rights Reserved.
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