The Supreme Court of Korea ruled that Samsung Securities must pay 1.86 billion won to the Korea National Pension Service to cover losses due to the 2018 dividend payment error. In April 2018, Samsung Securities mistakenly paid a cash dividend of 1,000 won per employee into 1,000 shares; subsequent employee sell-off caused the stock price to drop 11.7% intraday. The Korea National Pension Service sought compensation of 29.9 billion won, while a lower court ordered Samsung Securities to pay 1.86 billion won. South Korea's Supreme Court upheld the ruling on Wednesday. Samsung Securities said in another statement that it “respects the final ruling of the Supreme Court.”
Zhitongcaijing · 2d ago
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The Supreme Court of Korea ruled that Samsung Securities must pay 1.86 billion won to the Korea National Pension Service to cover losses due to the 2018 dividend payment error. In April 2018, Samsung Securities mistakenly paid a cash dividend of 1,000 won per employee into 1,000 shares; subsequent employee sell-off caused the stock price to drop 11.7% intraday. The Korea National Pension Service sought compensation of 29.9 billion won, while a lower court ordered Samsung Securities to pay 1.86 billion won. South Korea's Supreme Court upheld the ruling on Wednesday. Samsung Securities said in another statement that it “respects the final ruling of the Supreme Court.”
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