Samsung's executive chairman, Jay Y. Lee, has had criminal charges of stock manipulation and accounting fraud dropped by South Korea's Seoul High Court. The ruling allows Lee to refocus on Samsung's business operations amid declining profits. Although the prosecution can appeal to the Supreme Court, analysts suggest success is unlikely. The long legal process surrounding Lee's case has been controversial, drawing mixed reactions from the public and business leaders regarding economic justice in South Korea.
It has been a very long time in the investigation and trial of this case. We hope that with this verdict, the defendants can now focus on their work.
It is hard to say that Lee Jae-yong [aka Jay Y. Lee]... spearheaded the merger, and that the merger was done just for the sake of Lee's succession.
The ruling will free Lee of legal risks, but I am at a loss for words in terms of the country's economic justice.
This goes totally against all previous court rulings on the merger.
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