In light of recent allegations, Sejeong Law Firm, representing ADOR, issued a statement on May 14th to address claims made by HYBE that same day.
According to ADOR, HYBE’s unfounded attacks and attempts to displace ADOR’s management are the reason behind the decline in stock prices, not ADOR’s actions.
![ADOR’s Official Statement on Stock Trading Allegations Urges HYBE to Prioritize NewJeans 3 min hee jin](https://i0.wp.com/theubj.com/uae/wp-content/uploads/2024/05/min-hee-jin-1-080523-1.jpg?resize=557%2C653)
ADOR insists that it played no part in instigating the conflict and highlights HYBE’s aggressive strategy to replace ADOR’s management, irrespective of an ongoing audit.
ADOR has countered HYBE’s accusation of stock manipulation by Deputy CEO S, explaining that the sale of shares was for the purpose of settling a house lease contract, and they have evidence to validate this claim. HYBE’s allegations of improper use of undisclosed information are described as baseless.
Furthermore, ADOR clarifies that the KakaoTalk messages submitted by HYBE actually pertain to strategies regarding a potential plagiarism issue and not stock manipulation.
The statement accuses HYBE of deflecting and stirring public unrest through selective presentation of information and demands them to cease these activities.
ADOR has announced their Deputy CEO A’s withdrawal of consent for data provisioning due to these allegations and is prepared to pursue legal recourse if necessary.
Amidst the controversy, ADOR is channeling its energies on NewJeans’s anticipated comeback, noting their recent fanmeeting success in Japan. They argue that HYBE’s preoccupation with the dispute is misaligned with their duty to support their artists.
ADOR challenges HYBE to consider their own role in the stock price downturn and to focus instead on managing their essential business operations and artist protection.
An appeal is made by ADOR to HYBE to bring genuine facts to court rather than engage in ‘media play.’
Thank you.
FAQ Section
What is the issue between ADOR and HYBE?
HYBE has made allegations against ADOR of stock manipulation and improper management, which ADOR vehemently denies, stating the damaging actions actually derive from HYBE’s own conduct.
What was the stock trade that HYBE alleges as manipulation?
HYBE claims ADOR’s Deputy CEO S engaged in stock manipulation by selling shares ahead of an audit, an accusation ADOR counters as a necessary step to fulfill a house lease contract.
Has ADOR provided evidence to support their stance?
Yes, ADOR claims they have submitted proof that the share sale by Deputy CEO S occurred to settle a house lease contract.
What is ADOR’s response to HYBE’s evidence from KakaoTalk messages?
ADOR clarifies that these messages concern contingency plans in case of a plagiarism issue, unrelated to accusations of stock market manipulation.
What legal actions is ADOR considering?
ADOR expresses readiness for civil and criminal legal actions against HYBE officials if they continue to infringe the rights of their employees.
What is ADOR currently focusing on amid these allegations?
Despite the controversy, ADOR is prioritizing the comeback of their artist NewJeans and has seen success with their Tokyo Dome fanmeeting in Japan.
Conclusion
In conclusion, the public dispute between ADOR and HYBE is marked by ADOR’s denial of all allegations of stock manipulation and a call for HYBE to redirect their efforts towards more pressing concerns, such as artist promotion and proper business management. ADOR underlines the importance of their continued work with NewJeans and emphasizes that any unresolved issues should be dealt with legally in court rather than through media. The firm’s position is firm and evidence-based, ready to defend its reputation and standing with all necessary means.