A former Hubei tycoon has been ordered to pay 30,000 yuan in damages for spreading false claims that Yihai Kerry Arawana Holdings Co., Ltd. transported cooking oil using fuel tankers. The fabricated rumor allegedly caused a market value loss of 650 billion yuan for the company.
The court ruled against the defendant for defamation, holding them accountable for spreading misinformation that harmed the company's reputation. The case highlights the legal consequences of corporate slander in China's financial markets.
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