EXO-CBX, comprised of members Chen, Baekhyun, and Xiumin, have issued a formal statement of rebuttal against SM Entertainment's obligation fulfillment lawsuit.
Read the full statement below.
"EXO-CBX would like to deliver the following positions regarding SM Entertainment's lawsuit and CBX's own legal counter measures.
1. SM's response was a lawsuit.
On June 12, SM Entertainment filed a lawsuit against us.
On June 10, during the press conference, we criticized SM Entertainment for demanding 10% of our sales when they did not keep their promise of 5.5% in distribution fees.
We asked SM for answers in response to our criticism. Additionally, during the press conference, we offered alternated suggestions to the '10% of sales' requirement, such as payment of usage fees for music produced by SM, assets, and branding; however, SM ignored these suggestions.
In the end, without any response to our suggestions, SM drew a lethal sword in the name of a lawsuit.
2. We will do our best.
As SM was the first to proceed with a lawsuit, we will also proceed with a firm stance by publicizing the full details of the negotiation process which occurred last year.
Furthermore, to obtain answers to the question that has lingered in our minds for a long time, the question of fair payments, we will file a payment claims lawsuit against SM Entertainment.
Then, the court will reveal that SM's payment system is full of unfairness. And thus, the matter of whether or not the exclusive contract is truly fair and lawful will undergo a proper evaluation through the law at the hands of the Fair Trade Commission.
3. A word to the fans.
To the fans who always send their love and encouragements, and who should always be happy in this, we feel sincerely apologetic for causing concerns and disappointment through a repeat of last year's incidents.
From now on, we will make official statements only when necessary, and we will do our best to resolve this situation as quickly as possible. We also promise to remain unchanging as Chen, Baekhyun, and Xiumin, the same people who made precious memories with all of the fans.
Thank you for reading this long statement. Once again, we apologize for the unnecessary emotional stress this may have caused."
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Whatever happens I stand with them not only because all three are my bias's but because I genuinely and very strongly dislike SM ENT in terms of management, safety/privacy of artists and more. Hope it goes well
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