Clarification on false statement of “Politics/Economics on Formosa TV”
February 21, 2017
The Bank hereby clarifies that it is not the truth for the statement made by Mr. Hu, Chung-Hsin (胡忠信) at the TV program "Politics/Economics on Formosa TV" (政經看民視), that "New York State Department of Financial Services has decided to confiscate the assets of Mega International Commercial Bank, New York Branch". The false statement has materially affected the Bank's reputation and the interests of the shareholders. The Bank hereby makes the clarification again as follows:
1.The Bank has never learned the statement made by Mr. Hu that the United States will confiscate the Assets of the Bank's New York Branch. It is definitely not true.
2.On December 9, 2016, the New York Court "quashed" the claim made by Kingstone in September 2016. Kingstone disagreed with the decision and has applied for appeal in mid-February 2017.
3.The statements made in September and December 2016 at the TV program respectively were all made right after the actions took by Kingstone at the New York Court in order to continuously spread untruthful news of the Bank.
4.We deeply hope the issues can be resolved through legal procedure. The domestic media shall not assist Kingstone to harass the Bank by using the public broadcasting to release false statement. The actions have materially affected the Bank's reputation and the interests of the shareholders. Moreover, it may affect the market order and the relationship with the peers. It is regretful to know these actions and we hereby clarify that the statement is not the truth.