After losing the injunction, HYBE declares that it will take “next steps within the limits of the law”

After losing one of the legal battles against the CEO of ADOR,Min Hee JinHYBE states that it will continue with the dispute, which began on April 22 of this year, and will take the next steps “within the limits established by law”.

The statement, shared by the Soompi portal, comes after the Seoul Central District Court approved the injunction that prevents HYBE from voting in favor of the dismissal of Min at the extraordinary meeting of ADOR shareholders scheduled for today, the 31st.

Furthermore, it is in this text where HYBE reveals that it respects the court’s decision, but reinforces that, as recognized by the court, Min Hee Jin conspired for the conglomerate to lose management rights under ADOR, as the company has an 80% stake in the agency.

This is because, when granting the injunction to the Min Hee Jinthe court stated: “Although the actions of Min Hee Jin may be considered betrayal of HYBE, it is difficult to say that they constitute actions of breach of trust in relation to ADOR”.

Read HYBE’s statement in full:

Our company respects the court’s decision regarding the injunction case filed by CEO Min Hee Jin and will not exercise the right to vote in favor of the ‘Dismissal of Inside Director Min Hee Jin’ at the next extraordinary shareholders’ meeting.

Furthermore, as the court clearly stated in this decision, ‘it is evident that Min Hee Jin sought ways to weaken HYBE’s control over ADOR and allow Min Hee Jin to control ADOR independently, taking NewJeans out of HYBE’s control or By pressuring HYBE to sell its shares in ADOR’, our company plans to proceed with subsequent steps within the limits established by law.

According to the Naver portal, representatives of Min also spoke out after the decision. “HYBE was unable to prove the reason for the dismissal and resignation of the CEO Min Hee Jin as director, and this is the main reason why this request for an injunction was accepted,” they said.