Lee Jung Jae’s Company Involved In Investigation For Insider Trading And Stock Manipulation, Actor Issues Rebuttal

Artist Company has distanced itself from allegations involving Artist United (formerly Widerplanet) regarding unfair trading practices, such as insider trading and stock manipulation.

In a statement issued on December 6, Artist Company acknowledged that Widerplanet is indeed under investigation by financial authorities but clarified that neither the company nor Lee Jung Jae is a subject of the probe.

Widerplanet, a KOSDAQ-listed company acquired by Lee Jung Jae, Jung Woo Sung, and Park In Kyu (former Wysiwyg Studio CEO), is at the center of allegations suggesting a specific group leveraged insider knowledge about the acquisition to manipulate stock prices, profiting significantly by portraying the shares as politically themed stocks.

Artist Company firmly denied these claims, stating, “Lee Jung Jae had no involvement in illegal activities such as insider trading or information leaks during Widerplanet’s third-party allocation of paid-in capital.” The company vowed to actively counter these accusations to clear any misunderstandings surrounding Lee Jung Jae and Artist United.

Moreover, Artist Company emphasized its commitment to conducting an internal investigation into these allegations, promising to take legal action against individuals involved in insider trading or information leaks to safeguard the interests of its shareholders.

Meanwhile, Lee Jung Jae is preparing for the release of Squid Game Season 2, set to debut on November 26 via Netflix.

Source: (A)