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Gen2 Partners Ltd., a Hong Kong-based hedge fund, is seeking more than $137 million in damages from three Samsung financial companies, including Samsung Life Insurance and Samsung Fire & Marine Insurance. Gen2 claims the firms misused shareholder funds and breached fiduciary duties. The dispute centers on a 2015 merger between Samsung Fire & Marine Insurance and Samsung Life Insurance, which Gen2 alleges unfairly benefited the parent Samsung Group at the expense of minority shareholders. The fund is pursuing legal action in South Korea, arguing the merger caused significant financial losses for investors.
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