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Seoul Court Dismisses Young Poong, Korea Corporate Investment Holdings' Voting Rights Injunction in Korea Zinc

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The Seoul Central District Court on Monday dismissed applications by Young Poong Corp. (KRX:000670) and Korea Corporate Investment Holdings seeking a preliminary injunction to prohibit the exercise of voting rights in Korea Zinc (KRX:010130).

The ruling was issued on Friday, Sept. 4, and confirmed on Sept. 7, according to a Monday filing with the Korea Exchange.

The court said it was difficult to conclude that the alleged reporting issues had sufficient grounds for the injunction, including whether information on a lender was material or whether false or intentionally omitted disclosures had been made.

Shares of Young Poong Corporation rose nearly 1% in recent trade.

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