My thoughts on the matter is some sort of scandal and I don't mean it like Kpop version of someone simply dating or slightly overweight I mean an "actual scandal."
From someone who has followed Kpop for ten years I have never seen a company drop a group like this that didn't involve a criminal activity, Pledis didn't just simply disband Pristin they practically scrubbed them from existence!
Kyla said there was a lot going on behind the scenes and Minkyeung said that Pledis had "no choice" but disbandment, if Pristin was unviable I could see disbandment happening but like it has been pointed out they weren't doing that bad, I've seen groups do much worse and still remain active, however if one or more members did 'something' that if it got out would kill the group altogether then that would certainly explain Pledis's behaviour.
I'm not saying it have to be really bad from our point of view but something that if it got out would tarnish everyone involved.