Hong Kong-listed broadcaster, Television Broadcasts Ltd (TVB), has lashed out at a group calling itself the “TVB Minority Shareholders Alliance”, promising legal action and standing by “core values of integrity, transparency, and accountability”.

TVB’s strongly worded statement on Friday followed an open letter, signed by TVB Minority Shareholder Alliance founder Zhou Yiqiang, posted in Chinese on the Alliance of Minority Shareholders Facebook page.

Multiple posts related to the same issue, and mentioning six million subscribers in China as well as national security issues, are generating a steady social media discussion stream.

TVB said the allegations against the company and its directors were “serious and defamatory” and that legal action would be taken against all parties involved in distributing the Alliance’s message. 

TVB said it was “committed to conducting its business strictly in accordance with the applicable laws and regulations”. 

“We want to assure our shareholders and employees that we remain fully committed to our core values of integrity,transparency, and accountability. We will continue to run our business with the highest standards of corporate governance and compliance,” TVB said.

The Alliance, which has hit back at TVB and says it won’t be intimidated, said it has already submitted complaints to various official bodies, including Hong Kong’s stock exchange and the HK Broadcasting Authority.