The biopharmaceutical arm of Samsung Group, Samsung BioLogics,.... has filed an administrative lawsuit against South Korea's financial regulator over its recent ruling on the firm's accounting violations.
Samsung BioLogics also said Wednesday.... that it asked the Seoul Administrative Court to nullify the Financial Services Commission's disciplinary actions.
Those actions include.... a fine of around seven million U.S. dollars.... and recommending its CEO be fired.
The FSC's Securities and Futures Commission ruled this month.... that Samsung BioLogics intentionally changed the accounting method to inflate the value of its affiliate called Samsung Bioepis in 2015.
The company says.... it will prove the legitimacy of its accounting management through the lawsuit.
