The label stated:
"This is YG Entertainment.
We deliver former head producer Yang Hyun Suk's official stance regarding the earlier report by 'Dispatch'.
'First, I apologize for causing so many people concerns due to the ongoing accusations. All of the allegations including the earlier 'Dispatch' report are merely one-sided claims by informants, and they are all absolutely false.
YG is currently refraining from responding to such situations through the media. It is because I believe that it is right to unveil the truth through police investigation.
I look forward to the time when the truth comes to light regarding all of the ongoing, false accusations.
I plead with all media representatives to take action and prevent further accusatory articles from spreading.'"
Meanwhile, Yang Hyun Suk officially resigned from his position within YG Entertainment back on June 14.