
$100 Billion USD oops - SmokeyJones
https://en.wikipedia.org/wiki/2018_Samsung_fat-finger_error
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Nikbul
I wonder more why employees who sold shares were prosecuted. It just screwed
up world.

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posixplz
It’s also illegal to take “almost free” gasoline at a pump that’s erroneously
listed $0.02/gal. While one would pay the unrealistically low price listed on
the pump, one knows — or rather, a reasonable person would know — that it’s an
error. Benefitting from a such a pricing error is illegal and technically
theft. One is legally required to pay the fair market value for obtained
goods, or return the goods that were received in such circumstances.

~~~
kyleperik
So what exactly constitutes an error then? Are then people legally held
responsible if gas prices were accidentally set a few pennies below the
typical market value? How can someone prove an error like this? Otherwise you
could go around selling products at an "accidentally" low price, but then
demanding compensation.

~~~
speedplane
> So what exactly constitutes an error then?

It's standard contract law. Every time you purchase anything, you're making a
legally binding contract, even buying a sandwich at a shop. Under centuries
old contract law, there must be a "meeting of the minds", both parties must
understand what they're getting into. If one person makes a obvious mistake
(e.g., pricing gas at $0.02/gallon), there is clearly no meeting of the minds,
the contract is void, and the seller can ask the buyer for their money back.

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reitzensteinm
The numbers in the article don't add up. I think what it means to say is 2000
employees received 1000 shares per ~$1 USD in dividends they were meant to
receive, rather than a fixed value of 1000 shares each (which are not worth
$9m!).

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nebulous1
> Such measures came after an irrevocable accidental input error on Friday --
> “share” instead of “Korean won” -- caused Samsung Securities to pay
> dividends to shareholding employees of a combined 2.8 billion shares,
> instead of 2.8 billion won ($2.6 million).

~~~
reitzensteinm
> The intent was to give each of those employees 1000 South Korean won worth
> about US$1, but instead they all got 1000 shares.

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masonic
Actual title: "2018 Samsung fat-finger error"

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testplzignore
> 112.6 trillion won, or 30 times the market capitalization of the company

For those as confused as I was - Samsung Securities is a small company within
Samsung which has a market cap about 1% the size of Samsung's.

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eruditely
I wonder how many more errors like this have happened.

~~~
raw_creations
[https://www.usatoday.com/story/news/nation/2018/11/28/atm-
ac...](https://www.usatoday.com/story/news/nation/2018/11/28/atm-accidentally-
gives-100-bills-but-customers-get-keep-cash/2135805002/)

