Seoul, April 29 (IANS) South Korea’s antitrust regulator on Wednesday newly designated Kim Bom, founder of US-listed e-commerce giant Coupang, as the company’s de facto controlling entity, placing him under stricter regulatory oversight.Kim, a U.S. citizen who also serves as chairman of the board, was designated as the “same person” of the group, a legal term referring to the individual who effectively controls a conglomerate, the Fair Trade Commission (FTC) said.The FTC’s decision comes as Coup…
Latest Securities and Exchange Commission News & Updates
New York, April 8 (IANS) Emphasising that the lawsuit brought by the Securities and Exchange Commission (SEC) against him falls outside the US jurisdiction and fails to establish any wrongdoing, billionaire industrialist Gautam Adani has moved a US court seeking dismissal of the securities fraud lawsuit.Arguing that the case represents an impermissible extraterritorial application of US law and fails for lack of personal jurisdiction, Gautam Adani and his nephew Sagar Adani have asked a court in…
New York, April 7 (IANS) In a key development, Gautam Adani, the Adani Group Chairman, and his nephew Sagar Adani have asked a court in the US to dismiss a lawsuit brought by the Securities and Exchange Commission (SEC) against them. They argued though their lawyers that the case falls outside the US jurisdiction and fails to establish any wrongdoing.The defendants are seeking dismissal of the case in full and said they are prepared to appear for a pre-motion conference if required.Adanis said i…