severe delays in their disclosure, considering the company made a pursuant to a proposed acquisition, that as at 9 September 2008, "the Directors are not aware of any material adverse change in the financial or trading position of the Group since 31 December 2007". When the shares resumed trading, the share price had fallen by some 75% since the previous close. As a result of the revelations, two officers were forced to resign in disgrace. Due to her involvement in the loss, the chairman's daughter was demoted. The chairman claimed his daughter Frances Yung had not informed him about the situation before its discovery. Managing director Henry Fan temporarily stepped down from the Executive Council and the chairmanship of the Mandatory Provident Fund Schemes Authority, and all other major public positions he held with effect 24 October 2008. On 3 April 2009, trading in CITIC Pacific shares was once again suspended, and the Hong Kong Police searched the company's office as part of an investigation into whether the company directors had made false statements about the foreign-exchange contracts, as well as company announcements made between July 2007 and March 2009, or had conspired to defraud. On 8 April, chairman Larry Yung resigned, citing the effect of the Commercial Crimes Bureau's visit to the company on public opinion; managing director Henry Fan resigned at the same time. They were replaced by Chang Zhenming, the Chairman of the CITIC Group. Recent history CITIC Pacific bought most of the assets from the parent company and issue new shares to the parent, making most of the assets of CITIC Group were listing in a stock exchange. However, CITIC Group still retained the stake in CITIC Guoan Group. In 2014 the name of the company was also changed from CITIC Pacific Limited () to just CITIC Limited (). On 20 January 2015, the Japanese general trading company Itochu and its Thai cross-shareholding affiliate Charoen Pokphand announced an investment of approx. HK$80 billion (US$10.4 billion) in CITIC Limited, the largest investment ever made by a Japanese general trading company. The transaction is also the largest acquisition in China by a Japanese company, and the largest investment by foreigners in a Chinese state-owned enterprise. The deal saw Chia Tai Bright Investment, a 50–50 joint venture of Itochu and Charoen Pokphand, acquire a 10% stake of CITIC Limited from CITIC Group for HK$34.4 billion (US$4.54 billion), as well