Display MoreThis is Sejong Law Firm, representing Adore CEO Min Hee-jin.
On April 22, 2024, Hive requested Adore to convene an extraordinary general meeting of shareholders regarding the dismissal of CEO and executive director Min Hee-jin, and the above-mentioned extraordinary general meeting of shareholders will be held tomorrow (May 31, 2024, 9 o'clock). . However, this was in violation of the shareholder agreement concluded between CEO Min Hee-jin and Hive, and accordingly, on May 7, 2024, CEO Min Hee-jin was prohibited from exercising voting rights against Hive on the 'removal of CEO Min Hee-jin and executive director'. An application for a provisional disposition to prohibit the exercise of voting rights was filed (Seoul Central District Court 2024 Kahap 20635 Case).
The 50th Civil Affairs Division of the Seoul Central District Court decided to accept the above application for provisional injunction on the afternoon of May 30, 2024. As a result, Hive will not be able to exercise its voting rights in favor of the 'dismissal of executive director Min Hee-jin' at Adore's extraordinary general shareholders' meeting to be held on May 31, 2024. If Hive exercises voting rights contrary to the injunction decision, it must compensate CEO Min Hee-jin with an indirect enforcement fee of 20 billion won.
From the time the application for provisional injunction was received on May 7, 2024, until just before the decision, Hive's litigation representative submitted extensive documents on as many as 11 occasions, and Representative Min Hee-jin also submitted written documents on 9 occasions, refutating all of them. Today, the court carefully examined both sides' claims and upheld Representative Min's request for a preliminary injunction. The court judged that all of Hive's witch-hunting claims, which were indiscriminately spread through the media, were incorrect.
The key issue in this case is ① the shareholder agreement signed between CEO Min Hee-jin and Hive, which stipulates that “Hive must exercise its voting rights so that Min Hee-jin can maintain her position as CEO and executive director of Adore for 5 years.” The questions were whether the voting rights binding agreement could be enforced on Hive, and ② whether CEO Min Hee-jin had grounds for dismissal or resignation as a director.
It is natural that the voting rights binding agreement must be kept as it is an agreement between the parties, but Hive even denied such a clear agreement between the parties. However, the court did not accept Hive's argument because the language of the contract between shareholders was clear.
In relation to whether CEO Min Hee-jin had grounds for dismissal or resignation as a director, the court rejected Hive's argument even though all KakaoTalk conversations that Hive had leaked to the media were presented to the court. As such, Hive was unable to prove the reason for CEO Min Hee-jin's dismissal and resignation as director, which is the core reason why this application for injunction was accepted.
Since the illegal audit of Hive began on April 22, 2024, the data obtained through this illegal audit has been leaked without filtering. However, if combined with malicious intent, only some Kakao Talk Saddams that could lead to a witch hunt against CEO Min Hee-jin appeared, and no evidence was found to support Hive's claims.
While this trial was in progress, maliciously edited private conversations between third parties were indiscriminately distributed to the media, and even now, some YouTubers and bloggers are infringing on the privacy of CEO Min and Adore members by interpreting the edited KakaoTalk as they wish. , is defaming. We plan to take action, including filing a complaint, so we ask that you immediately delete the currently posted video.
In addition, Hive hopes to respect the court's decision to injunction. If Hive takes action to exclude CEO Min Hee-jin from the position of CEO and executive director contrary to the injunction decision, this will be a direct violation of the contract between shareholders. In addition, since there is no reason for CEO Hee-jin Min to be dismissed as a director, there is no reason for CEO Hee-jin Min's two inside directors to be dismissed as directors, so if Hive dismisses the above directors, it is not respecting the court's decision and dismissing them without justifiable reason. Let me make it clear.
thank you
lol what are they saying. it seems like hybe is the one that has the slave contract. the injuction said nothing about the other two VPs.
