A South Korean court turned down the request for an arrest warrant for Samsung Group heir Jay Y. Lee, providing temporary relief for the vice chairman of Samsung Electronics
The ruling provided temporary relief for the vice chairman of Samsung Electronics. But he may face further pressure from the case at a time when the world’s top maker of smartphones and memory chips contends with the impact of the COVID-19 pandemic on demand.
They said the fraudulent accounting, and alleged stock manipulation, helped facilitate Lee’s plan to assume greater control of the group. Prosecutors called the decision regrettable, saying their investigation would proceed nonetheless. They may decide to reapply for the arrest warrant request for Lee, after further investigation, or bring Lee to trial without arrest.
The merger was seen as key to Lee increasing control of the sprawling group but critics say it rode roughshod over the interests of minority investors.
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