😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

Prosecutors to appeal after Samsung chief Lee cleared over 2015 merger case

Published 02/08/2024, 02:49 AM
Updated 02/08/2024, 12:22 PM
© Reuters. Samsung Electronics Chairman Jay Y. Lee leaves a court in Seoul, South Korea, February 5, 2024. REUTERS/Kim Soo-hyeon
005930
-

SEOUL (Reuters) - South Korean prosecutors will appeal a court decision to clear Samsung Electronics (KS:005930) Chairman Jay Y. Lee of charges including accounting fraud and stock manipulation in a case related to a 2015 merger of affiliates, court records showed on Thursday.

© Reuters. Samsung Electronics Chairman Jay Y. Lee leaves a court in Seoul, South Korea, February 5, 2024. REUTERS/Kim Soo-hyeon

The Seoul Central District Court cleared Lee, 55, and other former executives of all prosecutors' charges alleging they had engineered a merger between two Samsung affiliates - Samsung C&T 028260.KS and Cheil Industries - in a way that rode roughshod over the interests of minority shareholders.

Samsung did not have an immediate comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.