The Securities and Exchange Commission (SEC) annulled Alliance Select Foods International Inc.’s (ASFII) share acquisitions in 2014 and 2015. Know more:
The Securities and Exchange Commission annulled Alliance Select Foods International Inc.’s share acquisitions in 2014 and 2015.
It stemmed from the complaint filed by minority stockholders Hedy S.C. Yap-Chua, Harvest All Investment Ltd., Victory Fund Ltd. and Bondeast Private Ltd. In the assailed decision, the MSRD did not pass upon the matters relating to the possible violation of Section 19 of the SRC and its Implementing Rules and Regulations , and proceeded to dismiss the complaint on the basis of a finding that Yap-Chua, et al.’s cause of action has prescribed, and that they were guilty of forum shopping.
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