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1. All of the plaintiffs' claims are dismissed.
2. The costs of lawsuit are assessed against the plaintiffs.
Reasons
1. Basic facts
A. On September 9, 2008, the Defendant (former: Korea Investment Securities Co., Ltd.) is a securities company established for the purpose of financial investment business, such as investment trading business and investment brokerage business, and the Plaintiff A opened a securities account (Account Number C) at the Defendant’s CB Center for Desscion (PB Center). On September 14, 2007, the Plaintiff B opened the securities account (Account Number: D) at the Defendant’s Cscion Center.
B. On March 5, 2009, Plaintiff A became a beneficiary (shareholders) by investing KRW 500 million in the community fund E funds that the Defendant sold collective investment securities (hereinafter “instant fund”); and Plaintiff B invested KRW 500 million in the instant fund on March 12, 2009, respectively.
According to the investment proposal of the Fund, which was prepared by F in February 2009 by F, the Fund’s operator is F Co., Ltd. (hereinafter “F”), stating that “stocks (at least 60% of the total amount of assets), bonds (not more than 40% of the total amount of assets), and beneficiary certificates (not more than 5% of the total amount of assets),” and that an investable enterprise is “G companies that develop and produce synthetic resin products, and sell at least 90% of the total amount as companies specializing in water supply pipes, which are generated by government-funded construction.”
C. At the end of March, 2009, G, the representative director of F, purchased the shares of J Co., Ltd. (hereinafter “J”) with the “I” brand, which was anticipated to be circumvented in consequence of the instant fund’s investment, with H (hereinafter “H”). On March 31, 2009, H’s general meeting of shareholders held on March 31, 2009, rejected the merger agenda with J, thereby making it difficult to recover the investment amount of the instant fund difficult.
The investors of the instant fund decided to repurchase the collective investment securities of the instant fund in the manner of accepting shares by J around January 201.