Samsung Executives Investigated for Possible Insider Trading

The AP:

South Korea’s financial regulator said Friday it is investigating possible insider trading by Samsung executives related to a contentious takeover deal. […]

South Korea’s Yonhap News reported that nine Samsung executives purchased as much as 50 billion won ($43 million) of Cheil Industries stock before Samsung announced a deal to combine Cheil and another Samsung company in May.

Shares of Cheil, which has members of Samsung’s founding Lee family as majority shareholders, surged after the announcement.

Shocking that this could happen at a company as scrupulous as Samsung.

★ Friday, 4 December 2015