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South Korea's SK Securities faces 12B won lawsuit over private equity deal

South Korea-based SK Securities Co. Ltd. said July 5 that IT service provider Leenos Corp. and three other parties filed a lawsuit seeking 12 billion won in damages against the company and its local private equity partner WaterBridge Partners.

The lawsuit, filed the same day with the Seoul Central District Court, stems from a private equity fund investment deal organized by the WaterBridge SKS Private Equity Fund.

It claims that SK Securities, as the fund's general partner, breached a duty of care, without specifying details.

As of July 5, US$1 was equivalent to 1,118.53 South Korean won.