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Hybe to File Complaint against Subsidiary ADOR CEO, Management for Alleged Breach of Trust

Written: 2024-04-25 15:05:13Updated: 2024-04-25 15:27:27

Hybe to File Complaint against Subsidiary ADOR CEO, Management for Alleged Breach of Trust

Photo : KBS News

The nation's biggest entertainment company Hybe will file a complaint against management at subsidiary ADOR, including its CEO Min Hee-jin, for alleged breach of trust.

Announcing interim findings from an audit against the sublabel on Thursday, Hybe said it has verified concrete facts about a scheme to seize control of the company led by Min, and has obtained related physical evidence.

The entertainment mogul said those subject to the inspection are perceived to have discussed leaving the company along with ADOR's K-pop girl group NewJeans, while one of the officials involved has submitted proof of documents on the plan and the management's contact with outside investors.

Based on interviews during the audit and submitted documents, Hybe said Min ordered the management to come up with ways to pressure Hybe to sell off its ADOR shares, which led to discussions of the early termination of a contract with NewJeans and nullifying a contract between Min and Hybe.

Min and other members of ADOR's management have announced plans to hold a press conference Thursday afternoon to refute Hybe's claims.

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