Samsung chief Jay Y. Lee acquitted in 2015 merger case

Samsung Electronics executive chairman Jay Y. Lee has been declared not guilty on the charge of stock price manipulation and accounting fraud related to the merger of Samsung affiliates in 2015, a South Korean Court ruled on Monday.

In the November hearing, prosecutors had called for Lee to be in jail for five years and a fine of 500 million KRW ($375,000) over charges of violating the Capital Markets Act — accounting fraud and stock manipulation connected to an $8 billion merger of Samsung affiliates in 2015. The South Korean prosecutors alleged the merger helped Lee secure his control of the Korean tech giant.

Read more at: https://techcrunch.com