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한상넷 로고한상넷

전체검색영역
Prosecutors raid Hanmi Pharm over information leak
Collected
2016.10.18
Distributed
2016.10.19
Source
Go Direct
The Seoul Southern District Prosecutor’s Office on Monday raided the headquarters of South Korea’s Hanmi Pharmaceutical Co. as part of a full-scale investigation into allegations about insider trading and other violations of financial regulations that delivered major losses for retail investors.

The raid is focused to match suspicion that the information about Hanmi Pharmaceutical losing 850 billion won ($747.2 million) worth license deal with Boehringer Ingelheim had been leaked through social network services including Kakao Talk messenger before the company disclosed it to the public on the following day.

In an official statement following the raid, Hanmi Pharmaceutical offered an apology of having caused concern to the people and shareholders, but denied that the company intentionally had leaked information or delayed regulatory filing.

The drug maker said that it hoped misunderstandings would be cleared up through the investigation.

On September 30, 9:28 a.m., Hanmi Pharmaceutical announced in a regulatory filing that the milestone out-licensing deal with Boehringer Ingelheim broke down. Related information, however, was tipped off on September 29 at 6:53 p.m. through Kakao Talk messenger - even before Hanmi Pharmaceutical received an official e-mail from Boehringer Ingelheim at 7:06 p.m. Retail investors bought shares in Hanmi because the company had announced new prospectus deal with Genentech just a day earlier and were burned from short-selling by foreign and institutional players.

By Yoo Jun-ho

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