1. All of the plaintiffs' claims are dismissed.

2. The costs of lawsuit are assessed against the plaintiffs.

1. Basic facts

A. The status of the parties (1) AB (hereinafter “AB”) is a company that engages in basic compounds manufacturing business, etc. and AC (hereinafter “AC”) is a corporation that engages in mechanical and industrial products manufacturing business and is listed on KOSDAQ respectively.

(2) The investors who purchased or sold the shares AB, and AC from November 2017 to January 2018 are investors who purchased or sold the shares of Plaintiff B, I, K, Q, S, and W. The rest of the Plaintiffs except the above Plaintiffs are investors who purchased or sold the shares AC from November 2017 to January 2018.

(3) As a stock expert, Defendant X provided the stock information by contributing to the Internet Securities Broadcasting and Cable TV Securities Broadcasting, etc., Defendant AA is the director and vice-chairperson of AB, and Defendant Z is the two shareholders holding approximately 10% of the entire shares of AC. Defendant AA and Z, upon receiving a request for stock price manipulation from Defendant A and Z, Defendant A sent this request to Defendant X.

B. As a result of the relevant criminal case, Defendant AA, Y, and X were convicted of the following facts with respect to the market price manipulation of the shares AB, with respect to the market price manipulation of the shares AB, Defendant AA, Y, and X were sentenced to imprisonment with labor for two years and fines for 50 million won on May 31, 2018, and Defendant AA was sentenced to imprisonment with labor for two years and fines for 150 million won on each of the two years and fines for 150 million won, and Defendant AA was sentenced to imprisonment with labor for one year and for a fine for 150 million won.

As to this, on the grounds of mistake of facts, misunderstanding of legal principles, and unreasonable sentencing, Defendant X and A appealed from Seoul High Court on the grounds of unfair sentencing, respectively. On December 13, 2018, the above court rejected the Defendants’ assertion of mistake of facts or misapprehension of legal principles on the grounds of unfair sentencing, and reversed the lower judgment by accepting the Defendants’ assertion of unfair sentencing, and, on the grounds of imprisonment with labor for two years and fine for three hundred million won, DefendantY, and X, respectively.