[Alpha Biz=(Chicago) Reporter Paul Lee] Daewoong and Daewoong Pharmaceutical were designated as unfaithful disclosure corporations by the Securities Market Headquarters and were each given penalty points.

Daewoong said in a public announcement on the 13th that it will be given two penalty points for failing to make public announcement on the 14th. This is because Medytox and its subsidiary Daewoong Pharmaceutical, which is in the first trial of a civil suit, delayed the disclosure of the increase in litigation value from 110 million won to 50.1 billion won on Sept. 22 last year.

Daewoong Pharmaceutical will also be given four penalty points as of the 14th. This is due to the increase in litigation value with Medytox and the delayed disclosure of the results of the first trial with Medytox on the 13th of last month.

According to Article 47 (1) 12 of the Securities Market Listing Regulations, if the cumulative penalty points are more than 15 points within one year from the date of imposition of penalty points, they are designated as management items.

 

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