According to the legal industry on February 20 KST, HYBE Labels has formally appealed the district court's decision validating former ADOR CEO Min Hee Jin's rights to exercise her put option stipulated in her shareholder contract.
Previously on February 12 KST, the Seoul Central District Court ordered HYBE to pay Min Hee Jin 25.5 billion KRW (approx. 17.7 million USD), turning down the agency's claims that Min Hee Jin "breached her shareholder contract" in her attempt to "steal NewJeans" and seize control of ADOR. The court further ruled that Min Hee Jin did not act in violation of her duties as CEO of ADOR by exploring options for the company's independence from HYBE or by raising plagiarism allegations against ILLIT.
Following the court's initial ruling, HYBE Labels has processed its appeal as of February 19 KST and will attempt to overturn the ruling.
Meanwhile, Min Hee Jin recently returned to entertainment through her new independent label, OOAK Records.
SEE ALSO: Min Hee Jin lawsuits with BELIFT LAB and SOURCE MUSIC temporarily suspended
SHARE
