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Screenshot of a breaking news alert e-mail from Q2 2017
The Eastern Magistrates’ Court today adjourned the criminal proceedings brought by the Hong Kong Securities and Futures Commission (SFC) against Mr Lam Yik Tung, Mr Chan Lit Chun and Mr Anson Mui Ka Leung to 12 September 2017 for a pre-trial review after they pleaded not guilty to charges of insider dealing in the shares of Integrated Distribution Services Group Limited (IDS).
The SFC alleges Lam counselled or procured Chan and Mui to trade in IDS shares between 5 and 9 August 2010 after obtaining information about Li & Fung Limited’s proposed privatisation of the company through his professional connection with IDS (IDS was privatised by Li & Fung Limited and its shares were withdrawn from listing on the Stock Exchange of Hong Kong Limited on 1 November 2010).