Claiming 1.09 billion yuan, Citic Securities will also sue Purcell Storage for being an "accomplice in fraud" to court.

Recently, the delisted Purple Crystal Storage announced that China CITIC Securities, Zhitong Accounting Firm, Rongcheng Accounting Firm, and Guangdong Hengyi Law Firm have filed a lawsuit against Purple Crystal Storage and the former management team, requesting the court to award an advance compensation payment of 1.09 billion yuan. At the same time, 26 clients and 5 banks who cooperated in the financial fraud of Purple Crystal Storage have also been named as defendants and are required to bear the corresponding compensation responsibility. The case will be heard on June 22nd. A lawyer familiar with securities false statement disputes analyzed to reporters that the basic path of "advance compensation - subrogation recovery" has been established at the institutional level, and there are precedents for investors suing parties involved in fraud and receiving support. He stated that as long as the actions of the intermediary company and the loan banks meet the legal requirements for joint infringement, the court will usually rule that the parties involved in the fraud and the issuer bear joint liability for investor losses.