THE INVESTOR

메뉴열기
March 28, 2024

Investors file suit against Samsung Securities for dividend error

PUBLISHED : June 24, 2018 - 16:16

UPDATED : June 24, 2018 - 16:16

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • sms

[THE INVESTO] Eight investors have filed a damages suit against Samsung Securities Co. for its massive dividend error in April, sources said on June 24.

They lodged the suit with the Seoul Central District Court, demanding the brokerage house pay them a total of 140 million won (US$125,842) in compensation for the “fat-finger” fiasco that drew sharp public criticism.





On April 6, one Samsung official mistakenly typed 1,000 shares instead of 1,000 won per share for dividends that were to be paid to employees under a company compensation plan. The error led to the issuance of 2.8 billion “ghost shares” worth some 112 trillion won.

Despite repeated advisories about the mistake, 16 employees quickly sold off a combined 5.01 million shares, causing financial losses for investors.

On June 21, the prosecution arrested three former Samsung Securities employees for selling the unauthorized stocks mistakenly given to them. They are charged with fraudulent trading and breach of trust.

By Lee Ji-yoon and newswires (jylee@heraldcorp.com)

  • 페이스북
  • sms
최상단으로
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.