Min Hee-jin Appears in Court for Final Hearing in $26 Million Put Option Lawsuit Against HYBE

Min Hee-jin, former CEO of ADOR, appeared in court for the final hearing of a $26 million put option lawsuit.

On the afternoon of the 11th, Min attended the final hearing of the stock purchase price claim lawsuit against HYBE, held at the Seoul Central District Court's Civil Division 31 (Presiding Judge Nam In-soo).

Min Hee-jin, stepping out of a van taxi, wore a brown checkered jacket paired with jeans as she headed to the courthouse. She displayed a calm demeanor, even smiling at the gathered press.

The lawsuit began in April last year when HYBE accused Min of attempting to seize management control and breach of duty. HYBE sought Min's dismissal and a change in the board of directors, while Min filed an injunction to prevent HYBE from exercising its voting rights. The court at the time found suspicion of Min's attempt to seize control but ruled there was no act of breach of duty, granting Min's injunction request.

Ultimately, HYBE replaced ADOR's board through an extraordinary shareholders' meeting and officially notified the termination of the shareholder agreement before filing a confirmation lawsuit. Separately, Min's lawsuit against HYBE for the put option payment is ongoing.

Reported by Ji-ye Choi, TenAsia wisdomart@tenasia.co.kr