On the morning of the 15th, the Civil Division 31 of the Seoul Central District Court held the final hearing for the lawsuit filed by HYBE seeking confirmation of termination of the shareholder agreement against former ADOR CEO Min Hee Jin, as well as the lawsuit Min filed against HYBE regarding payment for stock related to exercising the put option.
The hearing proceeded with legal representatives from both sides present. ADOR argued, “The defendants sought a way to independently take over ADOR with the intent to leave HYBE while taking NewJeans with them,” emphasizing, “This fact was recognized in the provisional injunction ruling last May and several court decisions thereafter.”
Specifically, they stated, “Looking at the KakaoTalk conversations and written documents as evidence, it is very clear what the defendants intended to do,” adding, “They planned a public relations and litigation campaign to damage HYBE, created justifications for NewJeans to terminate their exclusive contracts, and the search for investors to acquire ADOR’s shares did not happen as mere imagination or idle talk within KakaoTalk conversations.”
On the other hand, former CEO Min’s side countered, “When HYBE began an audit on April 22, 2024, the reason was mere rumor and the comprehensive attack was essentially confined to messenger conversations,” and argued, “There was no meeting with investors and no investment proposals anywhere, yet the plaintiff claims the defendants did so based solely on speculation and hearsay.”
They also urged the court, “Please do not be swayed by the plaintiff’s storytelling that mocks and dramatizes private conversations, and objectively judge this case, which primarily consists of words.”
The court is scheduled to deliver its verdict at 10am on February 12.