Kolon TissueGene said in a public filing on Thursday that its 294 minority shareholders were pursuing 9.28 billion won ($7.83 million) compensation for their investment losses through a lawsuit at the Seoul Central District Court.
The defendants include the company, CEO Noh Moon-jong, two former CEOs Lee Woo-sok and Lee Bum-sup, former Kolon Group Chairman Lee Woong-yeol, Kolon TissueGene CFO Kweon Soon-wook, and Kolon TissueGene’s outside director, Lee Jang-ik.
The compensation sought by the shareholders is 6.76 percent of the company’s equity capital.
“We will actively respond to the lawsuit by appointing a legal representative,” Kolon TissueGene said.
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