I am not a lawyer and neither do i have any experience in litigation. After reading the news about the charges filed against the CEO, CFOs and directors for various disclosure-related issues like omissions in the 2011 offer information statement and non compliance with accounting standards, it brought me back to the time when i read the following portions of the Securities and Futures Act (SFA). https://www.channelnewsasia.com/singapore/hyflux-former-ceo-olivia-lum-cfo-directors-charged-court-tuaspring-3079541 https://www.businesstimes.com.sg/companies-markets/former-hyflux-ceo-cfo-independent-directors-charged https://www.straitstimes.com/business/ex-hyflux-ceo-olivia-lum-ex-cfo-and-four-others-charged-for-violations-of-securities-and-futures-act

Civil liability for false or misleading statements

 

254.—(1)  Where an offer of securities or securities‑based derivatives contracts is made in or accompanied by a prospectus or profile statement, or, in the case of an offer referred to in section 280, where a prospectus or profile statement is prepared and issued in relation to the offer, and — (a) a false or misleading statement is contained in — (i) the prospectus or the profile statement; or (ii) any application form for the securities or securities‑based derivatives contracts;

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