Samsung Securities Disciplines Employees Who Sold 5 Million ‘Ghost’ Shares

[kreslik.news]

Samsung Securities, a South Korean investment firm, said this Wednesday that it has taken action against a number of employees involved in a dividends error last month. The ‘Fat Finger’ crisis led to the firm mistakenly issuing stock and giving it to their employees as dividends.

The error occurred last April when a trader was supposed to send 2.8 billion won’s worth ($2.6 million) of shares to employees as dividends. Instead the trader sent 2.8 billion shares, worth approximately $100 billion.

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Despite repeated warnings from the company, some employees quickly ... (read more)