Just days before Tencent Music's IPO, investor Hanwei Guo filed a lawsuit claiming he was forced to give up his 80% ownership in Ocean Music (now Tencent Music) through misinformation and intimidation.

Key Points of the Lawsuit:

• Guo claims he invested "tens of millions of dollars" for an 80% stake
• He alleges Guomin Xie (Tencent Music's Co-President) and others forced him to surrender control
• Guo received no shares during the IPO preparation
• He seeks court orders to obtain private company information from IPO underwriters

Tencent Music's Response:

• The company vows to "vigorously" contest all claims
• Acknowledges potential "material adverse effect" on reputation and finances
• Warns of significant resource requirements for legal proceedings in China
• Notes possibility of additional related legal actions

This case mirrors a similar situation with Spotify's direct listing, where Tanweer Khan made unproven claims about the company's ethics and leadership just before the listing.

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