ABSTRACT
The determination of the disclosure date for securities misrepresentation is crucial for investors' rights and interests, including their plaintiff qualification, right to compensation, and loss recovery. However, the legal standard for determining the disclosure data is unclear, leading to inconsistent application in judicial practice. China should adhere to a standard where disclosed information is certain and widely known by investors. With a unified standard, investors can make the most correct decisions, protect the interests of investors, and maintain the stability of the securities market. The main basis for the market to know the relevant evidence should be the dramatic fluctuation of stock prices. Additionally, China should expand channels for the disclosure of misrepresentation information and judge the number of required disclosure days based on the specific circumstances of each case. It will be easier to determine false statements, as well as identify liability and compensation for losses after the occurrence of false statements.
