The Securities and Futures Commission (SFC) has initiated legal action under section 214 of the Securities and Futures Ordinance against nine former directors of SoftMedx Healthcare Limited, including two de facto directors, for alleged breaches of fiduciary duties. The case involves claims that these individuals, particularly Mr. Cho Kwai Chee and Mr. Ronnie Hui Ka Wah, failed to disclose their directorship roles and caused SoftMedx to make misleading statements regarding a $79 million acquisition from Town Health Pharmaceutical. The SFC also seeks to mandate SoftMedx to publicly disclose the court’s findings about these breaches to inform shareholders.
Resources: https://apps.sfc.hk/edistributionWeb/gateway/EN/news-and-announcements/news/doc?refNo=24PR145