Samsung BioLogics trading suspended after accounting violations

Korea’s Securities and Futures Commission (SFC) temporarily suspended trading of Samsung BioLogics Co. Ltd. (KSE:207940) for violating accounting rules. The commission also recommended an W8 billion ($7 million) fine and the dismissal of Samsung BioLogics' President and CEO Tae Han Kim in a final ruling issued Nov. 14.

Samsung BioLogics said in a statement that it had not breached any accounting rules and that it plans to file a lawsuit in response to the ruling. Samsung BioLogics spokesperson Michelle Ahn told BioCentury the company has not yet decided on dates for filing the lawsuit...