Samsung BioLogics has filed an administrative lawsuit against a recent ruling by the nation's financial regulator that the firm violated accounting rules. 

The Seoul Administrative Court said the biopharmaceutical firm on Tuesday filed the suit and a suspension of execution for punitive measures the Financial Services Commission(FSC) has taken against the company after concluding the firm breached accounting rules in 2015. 

Earlier on November 14th, the Securities and Futures Commission under the FSC suspended stock trading of Samsung BioLogics, accusing the company of committing a four-and-a-half trillion won accounting fraud to inflate its value ahead of a planned public listing in 2016.

As punitive measures, the commission requested the company to re-draft its financial statements and advised the company to fire executives involved in the fraud and designate an auditor. It also slapped a fine of eight billion won on the company.