What happened? A Seoul appeals court has upheld the acquittal of Samsung’s Executive Chairman, Jay Y. Lee, dismissing allegations of fraud and illegal stock manipulation linked to the 2015 merger of two Samsung affiliates.
Why was he on trial? Prosecutors claimed the merger was designed to strengthen Lee’s control over Samsung while harming shareholders. They sought a five-year prison sentence, arguing that the deal was unfair and manipulated.
How did the court rule? The judges concluded that the merger was carried out with the consent of both companies, rather than being a scheme controlled solely by Samsung’s leadership. With this decision, the years-long legal battle over the merger seems to be coming to an end, though prosecutors may still take the case to South Korea’s Supreme Court.
