Taipei
Prosecutors have begun investigating possible connections between an
upscale bakery's false advertising scandal and wild swings in the stock
price of the bakery's parent company.Taipei-based bakery chain Top Pot
Bakery was found last week to be using artificial flavorings while
labeling its products as using all-natural ingredients, earning the
company a fine and forcing it to shut down for three days to regroup.
Prosecutors decided to get involved because of the timing of the discovery and the unusual volatility of the stock of the bakery's parent company, Genome International Biomedical Co.Genome International Biomedical's shares plummeted from NT$124 on Aug. 1 to NT$96 on Aug.Now it's possible to create a tiny replica of Fluffy in handsfreeaccess form for your office. 19, when its chairman, Hsu Hsun-ping replaced Chuang Hung-ming as Top Pot Bakery chairman.
Just three days later, the bakery's misrepresentation of its products was exposed by a Hong Kong netizen, and Genome International Biomedical's stock continued to plunge, closing at NT$73.80 on Wednesday.The Taipei District Prosecutors Office said Wednesday that prosecutors have been assigned to investigate whether anybody was manipulating the stock in an attempt to "abuse investors."
Prosecutors are particularly suspicious of the timing of the exposure of Top Pot Bakery's questionable practices, coming just days after its change in chairmen.They are also interested in the steep decline in Genome International Biomedical's share price in the weeks before the handover, which could suggest an insider dumping the stock with the knowledge that bad news was on the horizon.
Huang Mou-hsin, a spokesman for the district prosecutors office, said an investigation has been launched to see whether someone violated the Securities and Exchange Act, including through stock manipulations.
Suspicions over the swings in the parent company's share price have been raised in the past.Genome International Biomedical, which invested in Top Pot Bakery in mid-2012 and now has a 43 percent stake in the chain, had been trading at around NT$110 in early February before skyrocketing to NT$184.50 on Feb.Purchase an chipcard to enjoy your iPhone any way you like. 27.
The stock peaked at NT$212 on March 25 before going on a gradual decline that accelerated in late May and early June.Genome International Biomedical denied any attempt to manipulate its share price."Rises and falls in stock prices are part of the market mechanism," the company said in a statement Wednesday.
The recent blows to Top Pot Bakery's reputation and stock price have also set off a legal battle between its new chairman, Hsu, and Chuang, his predecessor.Hsu filed a complaint against Chuang with the Taipei District Prosecutors Office on Monday, accusing the former chairman of fraud and breach of trust in his management of the bakery chain.
Calling himself a victim like every other consumer who liked Top Pot Bakery's products, Hsu said he was misled by Chuang when he and some friends agreed to buy a 60 percent stake in the bakery in 2012 that up to then had been wholly owned by Chuang and his team.Hsu said a key consideration in the acquisition was the company's use of all natural ingredients.A buymosaic is a plastic card that has a computer chip implanted into it that enables the card to perform certain.
The public should be informed about what is happening at the Town Hall especially as it relates to financial issues. Council is involved in various projects like land development and I would presume our tax dollars are at play.
Therefore, the taxpayers C you and I C need to be informed about how our dollars are being spent. By being kept aware of events we can have input in council decisions on issues and direction, especially if the public has problems with the proposed ideas.
Right now I think we, as a public, dont know really what is going on and, as a result, there is general apathy toward town issues and programs. Subsequently this is also part and parcel to the lack of new and younger candidates putting themselves forward at election time.
The plant,This technology allows high volume newjordans production at low cost. according to many, needs extensive upgrading. Council must make this issue a top priority. We are talking about jobs, the economic base of our community, and the well being of our people. Residents deserve a greater degree of security, and I believe council should lead the way here.
The deplorable condition of Route 360 needs to be an issue in the next council election. Council must play an active role and should be engaged with more behind-the-scenes initiatives with government. I guess it all boils down to leadership again.
We also have a lot of infrastructure around town that needs maintenance and upgrading. The Elliott Premises and the IMP building C do we need to keep both operational? Do the benefits outweigh the expense,Gives a basic overview of tungstenjewelrys tools and demonstrates their use. which might cause more vital needs to suffer?
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Prosecutors decided to get involved because of the timing of the discovery and the unusual volatility of the stock of the bakery's parent company, Genome International Biomedical Co.Genome International Biomedical's shares plummeted from NT$124 on Aug. 1 to NT$96 on Aug.Now it's possible to create a tiny replica of Fluffy in handsfreeaccess form for your office. 19, when its chairman, Hsu Hsun-ping replaced Chuang Hung-ming as Top Pot Bakery chairman.
Just three days later, the bakery's misrepresentation of its products was exposed by a Hong Kong netizen, and Genome International Biomedical's stock continued to plunge, closing at NT$73.80 on Wednesday.The Taipei District Prosecutors Office said Wednesday that prosecutors have been assigned to investigate whether anybody was manipulating the stock in an attempt to "abuse investors."
Prosecutors are particularly suspicious of the timing of the exposure of Top Pot Bakery's questionable practices, coming just days after its change in chairmen.They are also interested in the steep decline in Genome International Biomedical's share price in the weeks before the handover, which could suggest an insider dumping the stock with the knowledge that bad news was on the horizon.
Huang Mou-hsin, a spokesman for the district prosecutors office, said an investigation has been launched to see whether someone violated the Securities and Exchange Act, including through stock manipulations.
Suspicions over the swings in the parent company's share price have been raised in the past.Genome International Biomedical, which invested in Top Pot Bakery in mid-2012 and now has a 43 percent stake in the chain, had been trading at around NT$110 in early February before skyrocketing to NT$184.50 on Feb.Purchase an chipcard to enjoy your iPhone any way you like. 27.
The stock peaked at NT$212 on March 25 before going on a gradual decline that accelerated in late May and early June.Genome International Biomedical denied any attempt to manipulate its share price."Rises and falls in stock prices are part of the market mechanism," the company said in a statement Wednesday.
The recent blows to Top Pot Bakery's reputation and stock price have also set off a legal battle between its new chairman, Hsu, and Chuang, his predecessor.Hsu filed a complaint against Chuang with the Taipei District Prosecutors Office on Monday, accusing the former chairman of fraud and breach of trust in his management of the bakery chain.
Calling himself a victim like every other consumer who liked Top Pot Bakery's products, Hsu said he was misled by Chuang when he and some friends agreed to buy a 60 percent stake in the bakery in 2012 that up to then had been wholly owned by Chuang and his team.Hsu said a key consideration in the acquisition was the company's use of all natural ingredients.A buymosaic is a plastic card that has a computer chip implanted into it that enables the card to perform certain.
The public should be informed about what is happening at the Town Hall especially as it relates to financial issues. Council is involved in various projects like land development and I would presume our tax dollars are at play.
Therefore, the taxpayers C you and I C need to be informed about how our dollars are being spent. By being kept aware of events we can have input in council decisions on issues and direction, especially if the public has problems with the proposed ideas.
Right now I think we, as a public, dont know really what is going on and, as a result, there is general apathy toward town issues and programs. Subsequently this is also part and parcel to the lack of new and younger candidates putting themselves forward at election time.
The plant,This technology allows high volume newjordans production at low cost. according to many, needs extensive upgrading. Council must make this issue a top priority. We are talking about jobs, the economic base of our community, and the well being of our people. Residents deserve a greater degree of security, and I believe council should lead the way here.
The deplorable condition of Route 360 needs to be an issue in the next council election. Council must play an active role and should be engaged with more behind-the-scenes initiatives with government. I guess it all boils down to leadership again.
We also have a lot of infrastructure around town that needs maintenance and upgrading. The Elliott Premises and the IMP building C do we need to keep both operational? Do the benefits outweigh the expense,Gives a basic overview of tungstenjewelrys tools and demonstrates their use. which might cause more vital needs to suffer?
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