In a provisional injunction lawsuit over the inspection and copying of accounting books between SNT Holdings(036530) and SMEC(099440), the court once again sided with SNT Holdings.
According to the industry on the 14th, the Changwon District Court on the 12th approved the existing provisional injunction regarding SNT Holdings' request against SMEC for inspection and copying of accounting books, among other materials, without accepting SMEC's objection.
Earlier, on Mar. 26, the court granted the provisional injunction for inspection and copying of accounting books, among other materials, that SNT Holdings sought. In response, on Apr. 7, SMEC filed an objection seeking dismissal of the injunction decision, but the court did not accept any of the grounds SMEC asserted and maintained the existing decision as is.
An SNT Holdings official said, "It has once again been confirmed through the court's decision that SNT Holdings' request to inspect and copy SMEC's accounting books and related materials was justified," adding, "SMEC should now respect the court's decision and carry out the inspection and copying of the accounting books and related materials."
SNT Holdings said in a disclosure on Jul. 27 that it additionally acquired 3.02 million shares of SMEC through market purchases.