According to Allkpop, the ongoing legal dispute involving three former members of the Kpop girl group Fifty Fifty (Saena, Aran, and Sio) has led to new developments.
IOK Company's stock price dropped significantly in just one day after announcing the signing of exclusive contracts with these female idols.
As of the morning of August 13, IOK's stock price has fallen for the second consecutive day. The decline is believed to be related to the decision to sign Saena, Aran, and Sio - idols who have faced public backlash for lying and are considered traitors by fans.
IOK is an artist management company that brings together many Korean actors such as Jo In Sung, Go Hyun Jung, Shin Hye Sun, Moon Chae Won, Kim Ha Neul and Chae Jong Hyeop.
On August 12, they announced the launch of their new record label MASSIVE E&C, and signed three former Fifty Fifty members to an exclusive contract. They are expected to begin their full-fledged activities later this year.
IOK shareholders have expressed their discontent on stock discussion forums, criticizing IOK's decision. Comments include: "Why sign a contract with traitors in a company that has been struggling financially for 5 years?", "I sold all my shares after reading this article", "It seems like they are trying to sabotage the company", "Are they crazy?"...
Fifty Fifty was originally a four-member girl group consisting of Keena, Saena, Aran, and Sio. Just a few months after their debut, Fifty Fifty gained global attention with their hit "Cupid," which broke Blackpink's record and peaked at number 17 on the US Billboard Hot 100 chart last year.
However, in June 2023, Fifty Fifty stopped working when 4 members suddenly filed a request to terminate the contract with the management company Attrakt, with reasons such as the company not caring properly about health, schedule, members not being paid since debut.
In late August 2023, the Seoul Central District Court dismissed Fifty Fifty's lawsuit, as they had not provided sufficient reasons for canceling the contract. The four idols then continued to appeal.
In October 2023, Keena suddenly withdrew his appeal, directly apologized to Attrakt CEO Jeon Hong Jung and asked to return.
Attrakt also announced the termination of exclusive contracts with Sio, Aran, and Saena, as the three members did not have any feedback, correction, or remorse for breaching the contract.
In December 2023, Attrakt filed a lawsuit demanding 13 billion won in damages against these three members and their parents.
Attrakt is preparing for the comeback of the new version of Fifty Fifty, with Keena and 4 newly recruited members, scheduled to release a mini album on September 20.
Source: https://laodong.vn/giai-tri/cong-ty-ton-that-vi-thu-nap-3-idol-bi-duoi-khoi-fifty-fifty-1380570.ldo
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