Largest ever fine given to LeTV over illegal and fraudulent information disclosure
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File photo: CFP

LeTV announced on Monday it received a notice issued by the China Securities Regulatory Commission fining it 600,000 yuan ($87,840) for suspected illegal and fraudulent information disclosure, and an additional fine of 5 percent of the funds LeTV raised in A-share market, or 240 million yuan ($35.1 million) .

The fine was reported to be the largest issued to an A-share company.

LeTV, also known as Leshi Internet Information and Technology Corp., had negative net assets attributable to shareholders of listed company audited in 2018, and the company's stocks had been suspended from May 13, 2019.