Court to treat Stark Corporation’s fraud case as a class action

[snoop1130]

 

The Bangkok South Civil Court decided today to classify the lawsuit filed against former executives and directors of wire maker Stark Corporation as a class action.

 

The lawsuit was filed against Vonnarat Tangkaravakoon, Chanin Yensudjai, Chinnawat Assavapokee, Sathar Chantrasettalead and Kittisak Jitprasertngam, former executives and directors of financially-troubled Stark Corporation, by Kanit Apiwatnanont and two other plaintiffs, accusing them of defrauding the public in violation of the Securities Act.

 

After having scrutinised the backgrounds and experience of the three plaintiffs and their lawyer, the court said it believes they are capable of representing and protecting the interests of some 4,500 shareholders, who fell victim to the fraud.

 

Full story: Thai PBS 2024-03-21

 

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[flyingtlger]

Totally different product but a Thai Enron in the making....

[Srikcir]

On 3/21/2024 at 9:36 PM, snoop1130 said:

The Bangkok South Civil Court decided today to classify the lawsuit filed against former executives and directors of wire maker Stark Corporation as a class action.

I am not an attorney but it would seem that classifying as a class action, it becomes a civil case and not a criminal case. Actually fortunate for the executives. There's no reason it can't be both if criminal conspiracy was cited.