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Flashlight Capital loses KT&G treasury share lawsuit in South Korea

Reported · Written up by our desk · Fund Industry

Activist investor Flashlight Capital Partners has lost a landmark legal challenge tied to treasury shares of South Korean tobacco company KT&G, according to a report by Bloomberg cited by Hedgeweek.

The case was closely watched as it tested how far board accountability extends with respect to treasury shares, after Flashlight brought a challenge against former directors.

Hedgeweek said the ruling ended Flashlight's pursuit of the outcome in the South Korean court system.

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Sources

HedgeweekActivist Flashlight loses landmark KT&G treasury share lawsuit in South Korea

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