SAMSUNG BIOLOGICS CO.,LTD. Samsung Electronics Chair
Lee was also found not guilty of being involved in alleged accounting fraud at Chiel subsidiary
The ruling on Monday determined that the merger was not conducted with the sole purpose of securing his path to take over the company from his father
"It is difficult to see the merger of the two companies was solely for the purpose of Lee's succession of management rights or strengthening his power," a judge with the Seoul Central District Courts said in the ruling.
Lee had been indicted more than three years ago with prosecutors citing documents alleging Lee's "predatory succession plan" which was detailed in a paper called "Project.G." The judge dismissed the allegation, saying prosecutors failed to show how the document differentiated from normal business practices.
Lee had denied any wrongdoing and the court on Monday agreed.
"It is true that the Future Strategy Office led the merger but it is found that the office had a list of other plans that have not been carried out," the judge said. "It is also hard to accept the prosecutors' claim that the office strategically chose a bad time for the merger to create the greatest damages for shareholders."
Prosecutors sought to imprison Lee for five years and fine him up to
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