sufficient information for investors to make an informed investment decision. Existing shareholders affected by dilution – the company must disclose clear and sufficient information in the notice calling

penalty to be imposed on the offender.    Appeal Any person who is affected by, and disagrees with, an administrative order has the right to appeal such order. The appeal procedure is provided by the SEC

shares at a discount causes dilution effect to the shareholders.  Therefore, offers must be reasonable and there must be a process that allows shareholders who are affected by dilution to take part in the

Council of State agreed to apply the principle of Class Action to the cases which have numerous victims affected by tort, breach of contract or damage derived from a violation of specific law, to protect

affected by tort, breach of contract or damage derived from a violation of specific law, to protect the injured persons. Accordingly, the principle of Class Action has been enacted as part of the Civil