beta
Text
1. The instant lawsuit shall be dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. 1) The Plaintiffs were shareholders who continued to hold approximately 0.760,090 shares, which are approximately 0.767% of the total number of the AC issued shares at the time of the instant lawsuit. 2) AC is a securities market-listed corporation that conducts investment trading, investment brokerage, collective investment advisory, discretionary investment business, forestry, etc. under the Financial Investment Services and Capital Markets Act.
3) The Defendants, at the time of May 31, 2016, serve as the representative director or directors of AC and are present at the board of directors on the same day. B. AK Group’s major shareholder changed from AC, upon the process of selling AC around March 2016, selected AL as a priority negotiation subject. On April 12, 2016, the Defendants sold approximately KRW 1.2,375 billion shares (22.56% of the total number of issued shares) to AC shares (SPA, Stock Purse A; hereinafter “instant share sales contract”).
(C) On May 31, 2016, the Defendants held a temporary general meeting of shareholders on May 31, 2016, and appointed Defendant AF, AG, and AH, designated as an internal director and an audit committee member, at around 09:00, who became the largest shareholder.
2) Defendant AD, Defendant AF, AF, AG, and AH newly appointed with Defendant AE, the representative director of AC, shall hold a board of directors around 15:00 on May 31, 2016 and hold a board of directors at around 16,715,870 shares of AC for the purpose of improving the financial structure of AC and securing investment premium (hereinafter “instant treasury shares”).
A) A resolution was made to sell 6,410 won per 6,410 won per stock, the largest shareholder of the board of directors’ resolution, and accordingly, sold the above treasury shares (hereinafter “instant treasury shares disposal”).
D. On July 26, 2016, the Plaintiffs thereafter requested the audit committee of AC to file a claim for damages against the Defendants.