Asset management companies prepare to form a group to sue former STARK executives.

Mrs. Chawinda Hanratanakul, President of the Association of Investment Management Companies or AIMC revealed that The association discussed with the Securities Commission (SEC) last Friday, June 23, 2566. Regarding the conclusion of claims for damages incurred by institutional investors who have invested in shares of Stark Corporation Public Company Limited or STARK through the Company's Class Action guidelines. Member of the mutual fund company and the former STARK management team are currently in talks with lawyers. to proceed with the said lawsuit

For the lawyers who will come in and handle this matter. It is necessary to use a lawyer who is a Thai company. Because of having a better understanding of the environment After a discussion with the SEC, legal teams were presented to 2 companies. The Asset Management Association has to study additional details on what aspects of the lawsuit can be filed. After this, the Asset Management Association is preparing to call Members join the discussion again soon. To summarize the guidelines for filing a lawsuit and the law firm that will be used.

However, it is confirmed that after the asset management company members learned that STARK did not use the additional capital to invest according to the stated objectives. Asset management companies reduced their investment weight before the Stock Exchange of Thailand (SET) announced the posting of the SP sign, causing very little damage to the funds. As for the case of the person who checks the account The Mutual Fund Association is still unable to make any accusations. Because there is still no clear information on the wrongdoing.

Mrs. Chawinda further said that the investment management industry places great importance on the responsible performance of fund managers. To protect the best interests of unitholders Asset management companies that have invested in STARK have the same opinion on the guidelines for doing class action as the association's president. Consider that this is a big issue that affects confidence in the Thai capital market. Not only the fund industry Therefore, it is a matter for all agencies involved, including the SEC Office, the Stock Exchange, auditors, financial advisors. Credit rating companies, analysts, etc. must jointly consider ways to prevent this kind of incident from happening again. To build confidence in the Thai capital market