On May 16th, HYBE released an official statement refuting recent assertions made by ADOR CEO Min Hee-jin. The press release emphasized that the detailed discussions with an investment industry professional, as disclosed by Min Hee-jin herself, contradict any notion that the management rights takeover was merely an informal conversation.
“Like the materials CEO Min Hee-jin herself disclosed today, such specific discussions with an investment industry professional could not have occurred if the management rights takeover was merely casual talk.”
The press release also addressed Min Hee-jin’s previous statements, noting, “In the press conference on April 25th, CEO Min falsely claimed ‘Bring forward any investor with whom I supposedly conspired’, pretending she had never met any investor.” HYBE emphasized that evidence and facts are exposing her alleged lies, with expectations for clarity from investigative agencies and the courts.
Earlier, on May 14th, HYBE submitted a petition to the Financial Supervisory Service, accusing ADOR executives, including Min Hee-jin, of stock trading using undisclosed information. Analyst A, mentioned in the petition, was refuted by ADOR’s legal representative, Sejong Law Firm, stating, “A did not provide any opinions related to the takeover of management rights.”
In response, ADOR disclosed materials showing that discussions involving Analyst A were at the recommendation of CEO Park Ji-won, suggesting the nature of their conversations. HYBE reiterated that Min Hee-jin’s intentions were focused on “seizing management rights,” emphasizing the seriousness of the situation and the evidence presented.
