National Police Agency “We are swiftly investigating the case involving HYBE accusing Min Hee-jin”

A National Police Agency official stated at a regular press conference held in Seodaemun-gu, Seoul on May 13th, “After receiving the complaint against CEO Min on April 25th, we are currently coordinating with the complainant’s representative for scheduling.”

Previously, HYBE filed a complaint against CEO Min for breach of duty. HYBE claims that CEO Min devised a plan to take over ADOR’s management rights and asserts that they have secured specific statements and evidence to support this.

In response, CEO Min held a press conference on April 25th to deny all allegations, and the dispute between the two sides has continued to the present.

The date for the extraordinary shareholders’ meeting, confirmed through ADOR’s recent board meeting, is scheduled for May 31st, where the motion for CEO Min’s dismissal is expected to be discussed. As HYBE holds 80% of ADOR’s shares, there is a high likelihood that the motion for CEO Min’s dismissal will pass once the extraordinary shareholders’ meeting is held.

On May 7th, CEO Min filed an application for a preliminary injunction against the exercise of voting rights against HYBE in the Seoul Central District Court. A hearing is scheduled for May 17th, and depending on the court’s decision of “rejection or acceptance”, the decision on CEO Min’s dismissal is expected to be determined.

Source: daum