Young Poong and MBK Withdraw Suit Challenging Korea Zinc Special Meeting
Young Poong and MBK Partners will withdraw their lawsuit seeking to nullify resolutions passed at Korea Zinc’s special shareholder meeting in January. After the Seoul Central District Court in March ruled that a restriction on Young Poong’s voting rights was unlawful and issued an injunction suspending the resolutions and outside directors’ duties, all four outside directors resigned, leaving Young Poong and MBK with no practical benefit in continuing the case.