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Gov't to announce verdict of Samsung BioLogics accounting irregularities

2018-11-14 0 Dailymotion

South Korea's Securities and Futures Commission is to announce its final decision on Wednesday on the alleged accounting irregularities by Samsung BioLogics, the biopharmaceutical business arm of Samsung Group.<br /> Samsung BioLogics is suspected of breaching accounting standards to inflate its net profit ahead of going public in 2015.<br />If it's found the company had intentionally inflated its profits... the trading of Samsung BioLogics shares on the country's benchmark KOSPI... worth a combined 4-point-4-billion U.S. dollars... could be discontinued and subject to punitive examination for delisting.<br />The verdict is expected to affect some 80-thousand minority shareholders. <br />

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