A South Korean appeals court cleared Samsung Electronics Chair Lee Jae-yong Monday of stock manipulation and accounting fraud related to the 2015 merger of two of the company's affiliates.

A South Korean appeals court has upheld a ruling that acquitted Samsung Electronics Chairman Lee Jae-yong of financial criminal charges over a contentious merger between Samsung affiliates that cemented his grip over the biggest South Korean company.

Samsung Electronics Chairman Lee Jae-yong was acquitted in an appellate trial on Feb. 3, clearing him of stock manipulation and accounting fraud charges related to the controversial merger between two Samsung affiliates in 2015.