11月12日，广州市中级人民法院对康美药业案做出一审判决，责令其赔偿约5.5万名投资者共约24.59亿元。

该案标志着“中国式集团诉讼司法实践”的成功落地。证监会称此案为“资本市场史上具有开创意义的标志性案件”，未来将推动完善代表人诉讼制度机制，依法推进特别代表人诉讼常态化开展。

2016至2018年间，康美药业财务造假300亿元。广州中院此次判决特别明确了各被告，尤其是实控人、时任董监高等应承担的责任比例，并要求审计机构广东正中珠江会计师事务所承担相应责任。

根据判决书，投资者代表律所为锦天城律师事务所、上海华尊律师事务所；康美药业诉讼代表人为金杜律师事务所，代理律所为炜衡律师事务所；康美药业实控人马兴田夫妇代理律所为广东宋氏律师事务所。此外浩天信和律师事务所、通商律师事务所等共8家律所也参与代理了不同被告。

AllBright, Walson, KWM, W&H on China’s first class-action lawsuit against corporate fraud

The Intermediate People's Court of Guangzhou ruled on November 12 against Kangmei Pharmaceutical Co and some of its former executives, handing victory to investors in China's first class-action lawsuit against corporate fraud.

Under the ruling, Kangmei must pay 55,326 investors a total of 2.46 billion yuan ($385.51 million) to reimburse their losses. Former Chairman Ma Xingtian and his wife, as well as four former executives, are liable for the obligations.

The ruling was hailed by China's securities regulator as a "milestone" event in the country's capital markets. Kangmei was engaged in intentional and systematic financial cheating worth 30 billion yuan ($4.60 billion) between 2016 and 2018.

According to the verdict, the investors were represented by AllBright Law Offices and Shanghai Walson Law Firm. King & Wood Mallesons acted as Kangmei’s proceeding representative, with W&H Law Firm acting as its legal advisor. The chairman couple was advised by criminal defense boutique Guangdong Song Law Firm. Hylands Law Firm, Commerce & Finance Law Offices and other six firms also represented different defendants in the case.

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