The recent developments in the HYBE-ADOR legal mess are here and HYBE is pushing for Min Hee Jin’s removal!
According to the industry on the 24th of April, it was reported that Min Hee Jin, the CEO of ADOR, and other members of the management submitted the Audit Questionnaire to HYBE. HYBE is currently reviewing ADOR’s response.
According to reports, ADOR submitted the response requested by HYBE by 6 p.m. on the same day. The inquiry/questionnaire included questions about attempted takeover of management rights, leakage of trade secrets, and solicitation of personnels and more.
In the response submitted by CEO Min, it is said to be stated that they will strongly respond with legal measures if the response content is disclosed to the public. The laptop and other information assets of CEO Min, which HYBE demanded return by 6 p.m. the previous day, have not yet been submitted.
HYBE’s audit team is securing and analyzing the computer assets, excluding CEO Min’s information assets. If concrete civil and criminal actions against the ADOR management are revealed in the audit, it is likely that legal measures will be taken.
Additionally, the board of directors of ADOR is scheduled for a meeting on the 30th of April upon HYBE’s request, if directors close to President Min do not attend, it is expected that HYBE will take active legal action to convene an extraordinary general meeting of shareholders.
Related: What Will Happen To NewJeans’ Comeback After The HYBE-ADOR Mess? HYBE Answers
The industry expects that the court’s decision on this matter will not take more than three months.
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Source: (A)
