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Photo courtesy of Yonhap News |
[Alpha Biz= Ellie Kim] Mezzion announced on February 17 that the Seoul Central District Court has dismissed a damages lawsuit filed by Erik Emerson, a former executive of its U.S. subsidiary.
The lawsuit, valued at approximately KRW 4.7 billion (USD ~3.5 million), was related to disputes over the exercise and cancellation of stock options.
Emerson was granted stock options in 2017 and attempted to exercise them after leaving the company. Mezzion refused the exercise, prompting Emerson to file a stock delivery claim in July 2021.
In July 2022, he revised the claim to seek damages instead, and a court ruling was finalized in November of that year. Of the awarded amount, approximately KRW 1.3 billion has been paid, while about KRW 1.1 billion remains outstanding.
The latest lawsuit represents a follow-up claim related to the unpaid portion. Emerson initially filed the claim in October last year and later expanded it on February 10 to include total damages of approximately KRW 4.7 billion.
The court has now rejected the claim in its entirety.
Alphabiz Ellie Kim 인턴기자(press@alphabiz.co.kr)
