Class action law to be used to protect Stark investors


The Stock Exchange of Thailand (SET) and the Association of Investment Management Companies (AIMC) are preparing to use class action law to protect investors’ interests as the Department of Special Investigation (DSI) probes potential fraud among former executives of Stark Corporation.

Manpong Senanarong, senior executive vice-president of the SET, said Stark shares dropped by about 90% after the SET allowed trading to resume from June 1, causing serious damage to investors, including holders of mutual funds.

The SET and AIMC have sought to assist retail investors by using class action laws to protect their equity interests, he said.

According to the SET, as of Aug 30 last year, mutual funds that held Stark shares included Bualuang Asset Management, which ranked among the…

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