Samsung chief Lee Jae-yong acquitted in stock manipulation case
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Samsung Electronics's billionaire leader, Lee Jae-yong, has been acquitted by a Seoul court on charges of stock manipulation and accounting fraud related to a controversial 2015 merger between two Samsung subsidiaries. This verdict is a significant relief for Lee who has been battling legal issues for years. In 2020, prosecutors sought a five-year prison sentence for Lee, claiming that he and other executives artificially inflated the stock price of Cheil Industries and undervalued Samsung C&T before the merger.
