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South Korea's Supreme Court Dismisses Appeal Against Kyobo Securities Over New Share Issuance Case

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Kyobo Securities (KRX:030610) said South Korea's Supreme Court has dismissed an appeal seeking to invalidate its issuance of new shares on Aug. 31, 2023, bringing the lawsuit to a conclusion in its favor, according to a Tuesday filing with the Korean Exchange.

The South Korean financial services company said that the Supreme Court, in its Aug. 12 ruling, dismissed the appeal and ordered the plaintiff, Yoon Hee-rang, to bear the costs of the appeal.

The Supreme Court ruled that the grounds outlined in the appeal do not fall within the scope of further review under the Act on Special Cases Concerning the Procedure for Appeals to the Supreme Court.

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