Prosecutors in Seoul made a strong push for Jay Y Lee future today asking court to lock-up Samsung Electronics chairman for 5 years; this comes after his previous win in court last winter
The case centers on a merger between two Samsung units back in 2015 - prosecutors say Lee didnt care about small investors when he joined Samsung C&T and Cheil Industries together (a move that made him stronger in the company). The hearing wraps up as Samsung deals with lower profits and stock problems
This legal-battle is just one of many troubles for the third-gen Samsung boss whoʼs been in-and-out of courtrooms for about 10 years. The whole thing started when his dad got sick around 10 years ago and Lee had to take control - thats when a big US investment fund called Elliott started asking questions about how things were done
The state lawyers say its clear: Lee wanted more power and didnt think about other people who owned shares in the company. This new court fight happens at a bad time‚ as many people wonder if he can lead Samsung well enough while memory chips and phones dont sell as good as before