Seoul Court Dismisses Young Poong, Korea Corporate Investment Holdings' Voting Rights Injunction in Korea Zinc
MT Newswires Live
Sep 07
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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