Spotlight on the ‘unusual trading patterns’ of managers.
South Korean regulators are investigating several executives at Samsung for insider trading. South Korea’s Financial Services Commission has launched an investigation into insider trading after the country’s regulators detected unusual trading patterns, according to a report in the Wall Street Journal.
The report claims, “Nine Samsung executives from various Samsung affiliates are suspected of having bought Cheil Industries shares worth 40 billion-50 billion Korean won ($35 million-$43 million) during the months of April and May.”
Samsung declined to comment when the WSJ asked for comment.
The investigation stems from trading activity around the time of a merger between Samsung’s holding company Cheil Industries and Samsung C&T Corp, which caused shares in Cheil Industries to rise in value.