Hybe requests investigation of Audoo management team by FSS
Request for investigation of stock transactions by Vice President S, close aide of Min Hee-jin
Request for investigation of false information dissemination causing stock price drop also including Min as a target
Hybe claims that Audoo management team conspired to lower stock prices in the Audoo KakaoTalk room,
,
,
,
,
,
, ‘Hybe is planning to submit a petition to the Financial Supervisory Service (FSS) requesting an investigation into Vice President S of Audoo and other members of the management team for using undisclosed information to trade stocks. They also plan to submit a petition requesting an investigation into allegations of market manipulation and dissemination of false information by Min Hee-jin and other Audoo executives, claiming that these actions led to stock price manipulation. Audoo responded by stating, “The claim that the audit was initiated on the 22nd does not match the timeframe.”‘,
,
, ‘According to investment banking sources on the 14th, Hybe will submit a petition to the FSS on suspicions of violating the Capital Market Act, such as spreading rumors and using undisclosed information related to Vice President S. At the same time, Hybe is requesting investigations into other Audoo executives including Min Hee-jin. Hybe specifically cited allegations of fraudulent transactions, such as spreading false information that artists under Hybe’s subsidiary label plagiarized other artists, and manipulating stock prices, causing losses to investors, as reasons for the investigation.’,
,
, “Hybe lodged a complaint against Vice President S of Audoo for allegedly using undisclosed information when he sold all 950 shares of Hybe stock worth 200 million won on April 15th. The stock sale occurred one day before Min Hee-jin and other Audoo executives sent the so-called ‘Second Email’ raising suspicions about Hybe’s management deficiencies and discrimination against Audoo. Hybe suspects that Vice President S sold all the shares the day before starting a public opinion war to prevent a drop in Hybe’s stock price once public opinion turned negative. Vice President S, as an executive of Hybe’s subsidiary under the law, is considered an insider.”,
,
, ‘The average selling price of the 950 Hybe shares Vice President S sold on April 15th was 214,605 won, totaling 23.87 million won. Following allegations of Min Hee-jin’s attempted takeover and internal turmoil, and as Hybe’s stock price plummeted to the 19000 won range, Hybe claims that Vice President S avoided losses amounting to tens of millions of won.’,
,
, ‘Min Hee-jin’s side countered, stating, “The fact that the audit was made public on the 22nd is after the sale of stocks, so it is unreasonable to say that stocks were sold in anticipation.” Vice President S also argued, “It was impossible to know that the audit would start on the 22nd, and the purpose of selling stocks was solely to secure funds for interim payments during the board meeting.”‘,
,
, ‘Hybe also requested an investigation into Min Hee-jin, claiming that she was aware of Hybe’s stock price decline in advance and conspired in public opinion campaigns. Hybe plans to submit evidence obtained from the audit, including KakaoTalk conversations where Min and others explicitly acknowledged the impending drop in stock prices. In a conversation on March 16, Min responded “Of course” when Vice President L predicted a stock price drop due to Audoo disputes. ‘,
,
, ‘Additionally, on April 3, in a group KakaoTalk chat with Min, Vice President S, Vice President L, and Director K, Vice President L mentioned, “If we go to court, the stock price will plummet, and small shareholders will want to file lawsuits…If these people join, Hybe will be distressed as a publicly traded company.” Hybe also claims that on April 18, discussions took place with Min Hee-jin and Vice President S and other executives, with Vice President L mentioning a strategy involving “FTC->Public Opinion War->Lawsuit,” saying, “A way to indirectly cause a stock price drop without getting blood on our hands is FTC->leak to the press-> stock price drop->prompt small shareholders to sue.” ‘,
,
,