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Samsung's Lee Jae-yong acquitted by South Korean court of financial crime charges related to 2015 merger

( February 5, 2024, 09:05 GMT | Official Statement) -- MLex Summary: Samsung Electronics Chairman Lee Jae-yong has been acquitted by a South Korean court, marking the end of a legal battle that stretched more than three years since his indictment. The Seoul Central District Court dismissed charges of unfair trading and stock price manipulation under the Capital Markets Act, as well as breach of duty related to the 2015 merger between Cheil Industries and Samsung C&T, allegedly aimed at consolidating Lee's control over the conglomerate. The court said there was no proof of crime for any of the charges brought in this case. The court also cleared Lee and others of accusations involving accounting fraud related to Samsung Biologics, a subsidiary of Cheil Industries.A court document explaining the ruling is attached....

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