Author: Shirley Au Yeung

When does the clock start to tick?

By a decision dated 28 September 2021 in Wang Haihong & Ors v J.P. Morgan Securities (Asia Pacific) Ltd and Deloitte Touche Tohmatsu [2021] HKCFI 2840, the Hong Kong Court of First Instance held that when investors bring claims for misstatements made in a prospectus, the limitation period of six years starts to run from the very moment they paid for the relevant shares, which represented the point in time at which the investors first suffered loss and damage.