The members of EXO-CBX participated in a press conference where they alleged that SM Entertainment did not comply with their negotiations; understand!
With the recent conflict between theEXO-CBX and SM Entertainment in progress, the boy group released a new statement announcing that they would sue the company for unfair distribution of profits, also including an apology to their fans.
Earlier this week, members Xiumin, Baekhyun It is Chen participated in a press conference where they alleged that SM Entertainment did not comply with their contractual negotiations, to which the company responded with legal action against the trio and the statement that all the information they said was false.
Check out the translation of the new CBX statement:
CBX’s legal response in relation to the action filed by SM Entertainment is as follows:
1. SM’s response was legal action.
On June 12, SM filed a lawsuit against us.
At our press conference on June 10th, we criticized SM for demanding 10% of our revenues, but we did not fulfill their promise of a 5.5% distribution fee.
And we asked once again what SM’s position was in relation to our criticisms. Furthermore, at that press conference, we actively proposed an agreement to pay a fee for SM’s music, assets and name instead of 10% of our revenue, but SM ignored this proposal.
In the end, SM did not respond to our attempts at negotiation and immediately drew the mighty sword of legal action.
2. We will do our best.
Since SM filed a lawsuit first, we will actively participate by revealing everything, including our negotiations from last year.
Furthermore, regarding the profit distribution that we have always doubted, we will take legal action against SM. Through this action, we will enforce our rights to receive accounting and profit distribution data as determined by law and our exclusive contracts. We will also reveal to the court that SM’s profit distribution system is wrong.
Furthermore, through our complaint to the Fair Trading Commission regarding the unfairness of our exclusive contracts, we will receive a proper hearing of the law.
3. A message to our fans:
To our fans who always send us love and support and should only receive joy (in return), we are sorry for creating anxiety and disappointment due to the same issue as last year.
In the future, we will minimize the release of official statements and try to resolve this situation quickly.
Furthermore, we promise to continue being Chen, Baekhyun and Xiumin who can forever be together with you through the precious memories we created with everyone.
Thank you for taking the time to read this long statement. We apologize for once again making you feel unnecessary emotions.”
Source: Recreio
