Korea: Samsung Biologics violated accounting rules

Korea’s Securities and Futures Commission ruled Thursday that Samsung BioLogics Co. Ltd. (KSE:207940) violated accounting rules during its 2016 IPO and has requested dismissal of executives and referral of the case to prosecutors.

The move follows an audit implemented by Korea's Financial Supervisory Service in May (see “Samsung BioLogics Shares Fall on Audit Concerns”)...