Latest news with #LeeJaeYong
Wall Street Journal
17-07-2025
- Business
- Wall Street Journal
South Korea's Supreme Court Upholds Acquittal Ruling on Samsung Chairman
South Korea's Supreme Court on Thursday upheld the lower courts' acquittal ruling on Samsung 005930 3.09%increase; green up pointing triangle Electronics Chairman Lee Jae-yong to clear him of criminal charges linked to a company merger a decade ago, ending the lengthy legal case weighing on the tech giant. The top court finalized the previous not-guilty verdicts by the district and high courts, which had acquitted Lee on multiple criminal charges, including alleged accounting fraud and stock manipulation, regarding the merger of Samsung C&T 028260 -0.17%decrease; red down pointing triangle and Cheil Industries in 2015, according to court officials and Samsung Electronics.
Yahoo
17-07-2025
- Business
- Yahoo
South Korea's top court upholds acquittal of Samsung's Lee over contentious 2015 merger
SEOUL, South Korea (AP) — South Korea's top court Thursday upheld the acquittal of Samsung Electronics Chairman Lee Jae-yong on financial criminal charges, ending years of legal disputes over the 2015 merger between Samsung affiliates that solidified his control over the company. In 2024, the Seoul Central District Court acquitted Lee of charges like stock price manipulation and accounting fraud by ruling that prosecutors failed to sufficiently prove the merger was unlawfully conducted with an aim to strengthen Lee's control over Samsung. The Seoul High Court upheld the district court's ruling in February, and the Supreme Court dismissed prosecutors' appeal of the high court's decision Thursday. Its ruling is final and cannot be appealed. Samsung's lawyers said in a statement that they 'sincerely thank' the Supreme Court for 'wisely" ruling on the case. They said the ruling confirmed the 2015 merger was legitimate. Lee, a third-generation corporate heir who was officially appointed chairman of Samsung Electronics in 2022, has led the Samsung group of companies since 2014, when his late father, Lee Kun-hee, suffered a heart attack. The senior Lee died in 2020. Lee Jae-yong served 18 months in prison after being convicted in 2017 on separate bribery charges related to the 2015 merger. He was originally sentenced to five years in prison for offering bribes to then-President Park Geun-hye and her close confidante to win government support for the merger, which was key to strengthening his control over the Samsung business empire and solidifying the father-to-son leadership succession. Lee was paroled in 2021 and pardoned by then-President Yoon Suk Yeol in 2022. Some shareholders opposed the 2015 merger, saying it unfairly benefited the Lee family while hurting minority shareholders. The Associated Press
Associated Press
17-07-2025
- Business
- Associated Press
South Korea's top court upholds acquittal of Samsung's Lee over contentious 2015 merger
SEOUL, South Korea (AP) — South Korea's top court Thursday upheld the acquittal of Samsung Electronics Chairman Lee Jae-yong on financial criminal charges, ending years of legal disputes over the 2015 merger between Samsung affiliates that solidified his control over the company. In 2024, the Seoul Central District Court acquitted Lee of charges like stock price manipulation and accounting fraud by ruling that prosecutors failed to sufficiently prove the merger was unlawfully conducted with an aim to strengthen Lee's control over Samsung. The Seoul High Court upheld the district court's ruling in February, and the Supreme Court dismissed prosecutors' appeal of the high court's decision Thursday. Its ruling is final and cannot be appealed. Samsung's lawyers said in a statement that they 'sincerely thank' the Supreme Court for 'wisely' ruling on the case. They said the ruling confirmed the 2015 merger was legitimate. Lee, a third-generation corporate heir who was officially appointed chairman of Samsung Electronics in 2022, has led the Samsung group of companies since 2014, when his late father, Lee Kun-hee, suffered a heart attack. The senior Lee died in 2020. Lee Jae-yong served 18 months in prison after being convicted in 2017 on separate bribery charges related to the 2015 merger. He was originally sentenced to five years in prison for offering bribes to then-President Park Geun-hye and her close confidante to win government support for the merger, which was key to strengthening his control over the Samsung business empire and solidifying the father-to-son leadership succession. Lee was paroled in 2021 and pardoned by then-President Yoon Suk Yeol in 2022. Some shareholders opposed the 2015 merger, saying it unfairly benefited the Lee family while hurting minority shareholders.
Al Arabiya
17-07-2025
- Business
- Al Arabiya
South korea's top court upholds acquittal of samsung's lee over contentious 2015 merger
South Korea's top court Thursday upheld the acquittal of Samsung Electronics Chairman Lee Jae-yong on financial criminal charges, ending years of legal disputes over the 2015 merger between Samsung affiliates that solidified his control over the company. In 2024, the Seoul Central District Court acquitted Lee of charges like stock price manipulation and accounting fraud by ruling that prosecutors failed to sufficiently prove the merger was unlawfully conducted with an aim to strengthen Lee's control over Samsung. The Seoul High Court upheld the district court's ruling in February, and the Supreme Court dismissed prosecutors' appeal of the high court's decision Thursday. Its ruling is final and cannot be appealed. Samsung's lawyers said in a statement that they sincerely thank the Supreme Court for wisely ruling on the case. They said the ruling confirmed the 2015 merger was legitimate. Lee, a third-generation corporate heir who was officially appointed chairman of Samsung Electronics in 2022, has led the Samsung group of companies since 2014, when his late father, Lee Kun-hee, suffered a heart attack. The senior Lee died in 2020. Lee Jae-yong served 18 months in prison after being convicted in 2017 on separate bribery charges related to the 2015 merger. He was originally sentenced to five years in prison for offering bribes to then-President Park Geun-hye and her close confidante to win government support for the merger, which was key to strengthening his control over the Samsung business empire and solidifying the father-to-son leadership succession. Lee was paroled in 2021 and pardoned by then-President Yoon Suk-yeol in 2022. Some shareholders opposed the 2015 merger, saying it unfairly benefited the Lee family while hurting minority shareholders.
