Samsung’s lawyers said in a statement that they “sincerely thank” the Supreme Court for “wisely” ruling on the case. They said the ruling confirmed the 2015 merger was legitimate.

South Korea's top court cleared Samsung Electronics Chairman Jay Y. Lee of accounting fraud and stock manipulation on Thursday, permanently removing a long-running legal risk for the head of the country's biggest company.

Samsung boss Lee Jae-yong has been cleared by South Korea's top court of fraud charges, concluding a years-long legal battle over his role in a 2015 merger deal. Lee, the grandson of Samsung's founder and the de facto head of the company since 2014, had been accused of using stock and accounting fraud to try to gain control of the firm.