The "Oolong means" event of Everbright Securities affected the interests of a huge number of securities investors some of which reaped huge gains. However, most of the securities investors suffered huge loss. Different people have different ideas about how to define responsibilities and how to claim for compensation.
The lawyer Liu Zhongzhou from Hubei Thinksunny Wuhan law firm thinks that the "Oolong means" event operated by securities operations has the legal characteristics of securities transactions, such as real-time trading, the object of uncertainty, presumed intention authenticity. Therefore, it is presumed that the transaction is completed and the deal is real, legal and valid. But from the perspective of civil law, if the transaction is indeed a mistake instead of the real will of the parties and the transaction price deviates from the market price significantly, the counterparty will be unable to defend by “acquirement in good faith". Due to the operational errors, the trading party who has suffered huge losses may request the court to confirm that the transaction is invalid and the property should be returned. However, China's securities laws and regulations haven’t defined it clearly. What’s worse, there is no corresponding relief terms in stock exchange regulations and obtaining proof is also extremely difficult. Therefore, in the legal practice, the relief of "Oolong means" event will be very difficult.