HYBE vs Min Hee Jin, the fight is not finished
HYBE said it is planning to take follow-up legal proceedings against Ador CEO Min Hee Jin, who won the provisional injunction lawsuit.
HYBE said on the 30th, “In respect of the court’s judgment on the provisional injunction lawsuit filed by CEO Min Hee Jin, we will not exercise our voting rights in favor of the ‘In-house Director Min Hee-jin’s dismissal’ at this extraordinary shareholders’ meeting.” “In addition, we plan to follow up on the follow-up process within the boundaries set by the law, as the court stated in this decision, ‘It is clear that CEO Min Hee Jin weakened HYBE’s control over Ador by taking New Jeans out of control of HYBE or pressuring HYBE to sell HYBE’s stake in Adore.’
On the same day, the Seoul Central District Court’s Civil Agreement Department 50 (Chief Judge Kim Sang-hoon) cited Min Hee Jin’s request for a provisional injunction against HYBE to ban the exercise of voting rights. The court said, “The reason for Min Hee Jin’s dismissal or resignation, which Hive claims, has not been sufficiently explained,” adding, “Min Hee Jin’s actions may be treacherous against HYBE, but it is difficult to say that it is an act of breach of trust against Ador.”
It is interpreted that the legal judgment on the act of breach of trust was strictly made. The legal community think that CEO Min Hee Jin may have planned to betray HYBE, but it did not lead to substantial damage. To read more about the legal decision of the court in details, CLICK HERE.
Full text of HYBE’s statement HYBE and Min Hee Jin
HYBE will inform you.
In respect of the court’s judgment on the provisional injunction lawsuit filed by CEO Min Hee Jin, we will not exercise our voting rights in favor of the “In-house Director Min Hee Jin’s dismissal” at this extraordinary shareholders’ meeting.
In addition, the company plans to follow up with the court’s decision, saying, “It is clear that CEO Min Hee-jin took New Jeans out of control of HYBE or sought ways to weaken HYBE’s control over by pressuring HYBE to sell its stake in ADOR’s.
Which legal action will be taken? HYBE vs Min Hee Jin how would it end?
