For the reasons indicated in its holding, the lower court acquitted the Defendants on each of the charges (excluding the part concerning the charge) on the grounds that there is no proof of crime.

The judgment below

Examining the reasoning in light of the relevant legal principles and records, the lower court did not err in its judgment by exceeding the bounds of the principle of free evaluation of evidence against logical and empirical rules, or by misapprehending the legal doctrine on the establishment of a crime of violation of the Financial Investment Services and Capital Markets Act due to

Therefore, all appeals are dismissed. It is so decided as per Disposition by the assent of all participating Justices on the bench.