CSRC Investigates Netac for Illegal Disclosure
CCTime, 9/20/12
Shenzhen-based USB solutions developer and supplier Netac Technology (300042.SZ) yesterday announced it has received notice from the China Securities Regulatory Commission (CSRC) that the company is under investigation for illegal information disclosure.
The investigation began shortly before July 31, when the company issued a statement announcing that its filings were not true, accurate, or complete, exposing a rift within the company's board of directors. An industry insider speculated that this internal power struggle may be related to the illegal disclosure investigation.
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