HYBE announced it is preparing to file an appeal.
On the afternoon of February 12 KST, HYBE released an official statement regarding the ruling in the lawsuit over the shareholders’ agreement termination. The company said, “We regret that our claims were not sufficiently accepted,” adding that it plans to review the written judgment and proceed with further legal steps, including an appeal.
Earlier that morning, the Seoul Central District Court’s Civil Division 31 held the sentencing hearing in the case involving HYBE’s lawsuit seeking confirmation of the termination of the shareholders’ agreement against former ADOR CEO Min Hee Jin, as well as Min Hee Jin’s lawsuit demanding payment related to her put option.
The court dismissed HYBE’s claims, ordered the company to bear the legal costs, and ruled that Min Hee Jin’s exercise of the put option was valid, instructing HYBE to pay approximately 25.5 billion KRW(~18 million USD).
SEE ALSO: HYBE rejects Min Hee Jin’s peace offer, moves to cancel 'compulsory execution'
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