© Reuters. Samsung Electronics Chairman Jay Y. Lee leaves a court in Seoul, South Korea, February 5, 2024. REUTERS/Kim Soo-hyeon
SEOUL (Reuters) – South Korean prosecutors will appeal a court decision to clear Samsung Electronics (KS:) 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.
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.