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TITLE Supreme Court Decision 2011Do15056 Decided July 11, 2013 【Violation of the Securities and Exchange Act】 [full Text]
Summary
[1] The meaning of “pre-agreed trading” as stock price manipulation under Article 188-4(1)1 and (1)2 of the former Securities and Exchange Act; and whether the conduct of trading at the same period and price among the accounts that a single person manages upon delegation by different accounting subjects, constitutes a pre-agreed trading (affirmative)
[2] The meaning of “profit from breach” under Articles 207-2, 214 of the former Securities and Exchange Act, and the method for its computation
[3] Whether “profit from breach” in Articles 207-2, 214 of the former Securities and Exchange Act includes both realized and unrealized profit (affirmative), and the method to determine “unrealized profit”
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