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... Tang sat quietly in the plaintiff’s representative position, listening to the other party’s defense.

He wasn’t surprised by the opponent’s defense strategy, or, to put it another way, even if he were the opposing representative, the defense strategy would be more or less the same.

Why defend from the angle of "non-retroactivity of law"? Because under a normal defense, there is currently no chance of winning.

The new "Securities Law" and judicial interpretations, as well a ...

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