Noah Says Shanghai High Court Upholds First Instance Judgement In Camsing Incident

(RTTNews) - Noah Holdings Ltd. (NOAH) announced on Friday that the Shanghai High People's Court, on January 5th, dismissed the appeals filed by the controlling shareholder of the Camsing in the criminal proceeding and upheld the judgment of the first instance.

Earlier, related to the Camsing fraudulent activities, the Intermediate People's Court had issued an initial judgment and the controlling shareholder and treasurer of Camsing were convicted of contract fraud and sentenced to imprisonment.

Noah expects the legal decision to have any material adverse effect on its business, results of operations, or reputation.