Samsung Electronics Chairman Lee Jae-yong has been acquitted of stock price rigging and accounting fraud connected to the controversial merger of two Samsung affiliates in 2015.

The Seoul High Court issued such a verdict on Monday during the appeals trial of Lee, or roughly a year after the Seoul Central District Court found Lee not guilty of unfair market practices in a bid to tighten his claim to the company as its heir.

The ruling for Lee came with the acquittal of 13 other defendants, including former head of Samsung Group's Future Strategy Office Choi Gee-sung.

The appellate court found Lee not guilty of false disclosure and accounting fraud related to Samsung BioLogics and dismissed the prosecution’s claims that a report on the merger of Samsung C&T and Cheil Industries was fabricated for Lee's smooth transition of control of the company. 

In September 2020, Lee and others were indicted over allegations that Samsung management intentionally lowered the value of group affiliate Samsung C&T while inflating that of Cheil ahead of the 2015 merger to help benefit Lee in his ascension in the company.

They were also accused of accounting fraud at a third affiliate, Samsung Biologics, to help facilitate the merger, which ultimately helped an overhaul of the group’s governance structure by Lee.