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TITLE Supreme Court Decision 2013Ma1052, 1053 Decided April 9, 2015 ¡¼Motion for Class Certification¡½ [full Text]
Summary
Standard to determine whether an act constitutes an unfair trading which is proscribed under Article 178 of the Capital Markets Act / As to financial investment vehicles which are structured so that the exercise of right or the fulfillment of requirement is determined, and the payment of money, etc. is settled depending on the price of the underlying asset at a certain time, whether the act of exercising rights or affecting the fulfillment of requirements using the means that are not acceptable by social norms constitutes an unfair trading that violates Article 178(1)1 of the Capital Markets Act (affirmative), and whether investors who suffered losses from the said act can file a damages claim against the individual who committed the said unfair trading in accordance with the Article 179(1) of the Capital Markets Act (affirmative)
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