OBI Received a Civil Complaint from Taiwan Shilin District Court

Clarification on the news article by China Times
July 12, 2017
Announcement on Change of the Head of Finance and Accounting
August 11, 2017
  1. Parties to the legal matter:
    Plaintiff: Securities and Futures Investors Protection Center (SFIPC)
    Defendant: OBI Pharma, Inc. and Dr. Michael N. Chang (Chairman)
  2. Name of the legal agency or court: Taiwan Shilin District Court
  3. Reference/case numbers of relevant documents: 2017 Su-Zi No. 905
  4. Date of occurrence of the event: July 21, 2017
  5. Background and circumstances of the matter (including the property/subject matter under dispute): Based on violations of the Securities Investor and Futures Trader Protection Act (Chapter 10-1, No. 2, Section 1), SFIPC requested the court to order a dismissal of Dr. Michael N. Chang as the Chairman of the company.
  6. Course and progression of handling of the matter: The company will consult its legal counsel on appropriate legal responses.
  7. Effect on company finances and business and estimated monetary amount of the effect: The business operation and financial status of the company are normal.
  8. Countermeasures and status of amelioration: None.
  9. Any other matters that need to be specified: None.