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Tencent Holdings (TCEHY) Targeted by Chinese Regulators Case
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- In March 2021, Bloomberg reported that increased supervision of Tencent (TCEHY) by China’s top financial regulators will require extensive corporate restructuring of the Company.
- On it, $TCEHY fell 4.5%, losing $37B+ of shareholder value.
- Investors may have grounds to suspect that Tencent hid its regulatory setbacks, which led to their losses.
On March 12, 2021, Bloomberg published an article reporting that China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down on Ant Group Co. The Company have to establish a financial holding company to include its banking, insurance, and payments services.
On this news, $TCEHY fell 4.5% and lost over $37 billion of its market capitalization, seriously damaging shareholders.
Considering all the information, investors might have grounds to suspect that Tencent failed to timely disclose its regulatory setbacks, which led to their losses.
The case is already under investigation by at least one of the reputable law firms.
Failure to Disclose,
Shock Event Date
12 March 2021