How many investors are involved in the Bestino legal battle?

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6,764 Investors Involved in Bestino Legal Battle

A total of 6,764 investors are involved in the legal battle concerning the defunct Bestino Group Berhad. These investors are seeking to recover RM411 million. The High Court dismissed their case on October 4th, marking a second dismissal for the plaintiffs.
High Court Dismisses Case Again

The High Court in Ipoh dismissed the investors' case for the second time on October 4th. This followed an earlier dismissal by the High Court in October 2017. The investors had appealed to the Court of Appeal after the initial dismissal. Justice Datuk Hashim Hamzah presided over the recent dismissal, without providing specific reasons in his judgment.
Previous Dismissal Rationale

In the prior dismissal, the High Court had stated that the plaintiffs should have filed their suit against the gold investment scheme company itself, rather than against the named defendants. This ruling was made without costs awarded to either side. The investors have been attempting to recoup their funds since the scheme was suspended in June 2009.
Defendants Named in Lawsuit

The legal action names company directors Chong Yuk Ming and Chang Kuei Geh, along with majority shareholders Goon Koon Lee and Ho Chee Cheong, as the defendants. These individuals are being pursued by the investors in their efforts to recover the substantial sum of RM411 million.
Plans to Appeal

Despite the repeated dismissals, the investors' legal counsel has indicated plans to advise his clients to appeal the High Court's decision. The investors' spokesperson also affirmed their intention to appeal and continue fighting the case, suggesting a prolonged legal struggle.

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How many investors are involved in the Bestino legal battle?

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