The continuing battle between HYBE and CEO Min Hee Jin has been escalating ever since the preliminary feud between both parties. Recently, it has been published that HYBE has taken factual action in opposition to ADOR’s CEO on the grounds of industrial embezzlement, where she dangers losing no longer only correct money but in addition her predicament.

HYBE info lawsuit in opposition to ADOR’s CEO, Min Hee Jin

On Might possibly perhaps additionally simply 1, 2024, a South Korean info outlet reported that HYBE filed a lawsuit in opposition to Min Hee Jin, the CEO of ADOR, last month on costs of industrial embezzlement. If HYBE can describe the allegations in opposition to the CEO, the firm will almost certainly be in a method to amass the shares she holds in ADOR for goal correct 2.4 million dollars. The contract signed between both parties states that if Min Hee Jin violates the phrases of the contract, HYBE might perhaps possibly possibly own the correct to repurchase her shares straight or thru a Third occasion.

HYBE holds 80 percent stakes in ADOR, and Min Hee Jin has 18 percent. On the other hand, the CEO’s 18 percent stake is currently valued at 80 million dollars. On the other hand, if HYBE’s embezzlement accusations are upheld in court docket, the worth of the shares will plod down dramatically. The CEO will must essentially leave her predicament and the firm empty-handed. Min Hee Jin has also it appears borrowed money from HYBE’s chairman, Bang Si Hyuk, to amass the 18 percent shares last one year and after repaying it, she can practically be bankrupt.

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More about HYBE and ADOR’s ongoing battle

The battle between HYBE and ADOR started when the inclined conducted an audit, along side that of the CEO, Min Hee Jin, after the information rolled out that they had been trying to separate management rights. HYBE even sent a letter asking Min Hee Jin to step down from the predicament. On the other hand, Min Hee Jin has vehemently denied the allegations.

Min Hee Jin mentions that the important direct is ready BELIFT LAB copying the ideas from NewJeans for his or her newly formed woman neighborhood, ILLIT. The manufacturing of the brand new alum by the neighborhood turned into overseen by Bang Si Hyuk. Furthermore, aside from stealing NewJeans’ realizing suggestions, Min Hee Jin also stated that HYBE has been reportedly taking action in opposition to the neighborhood to extra subdue them.