Arab Today, arab today s korea court fines lone star 209 mln
Last Updated : GMT 08:25:39
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S. Korea court fines Lone Star $20.9 mln

Arab Today, arab today

Arab Today, arab today S. Korea court fines Lone Star $20.9 mln

Seoul - AFP

A South Korean appeals court Thursday found US buyout fund Lone Star guilty of stock price manipulation and fined it 25 billion won ($20.9 million). The Seoul high court overturned a 2008 acquittal in the long-running case, which had stalled Lone Star's efforts to sell its 51 percent stake in Korea Exchange Bank (KEB). The court also passed a three-year prison sentence on Paul Yoo, former chief of the Texas-based fund's South Korean unit.

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