BREAKING NEWS NewJeans announces departure from ADOR

[UMJI MOODS]

All I see is a potential lawsuit in the making for HYBE. I'm not on their side, but easy money is easy money.

This is likely something hybe/ador will attempt to avoid. If they want the contract compensation percentage the law allows they will have to give a complete earnings report. They might even have to face an audit because they could randomly name any figure otherwise. They have structured the company to receive "Top Company" status clearly because of the audit immunity clause. Something wrong is occurring behind the scenes where 527.8m usd gross profits became 1.44m usd in bottom line profits in the last quarter. They don't want outsiders to know. They will either have to name a token figure or lay all cards on the table.

 

[RussianRoulette]

This is likely something hybe/ador will attempt to avoid. If they want the contract compensation percentage the law allows they will have to give a complete earnings report. They might even have to face an audit because they could randomly name any figure otherwise. They have structured the company to receive "Top Company" status clearly because of the audit immunity clause. Something wrong is occurring behind the scenes where 527.8m usd gross profits became 1.44m usd in bottom line profits in the last quarter. They don't want outsiders to know. They will either have to name a token figure or lay all cards on the table.

I've been reading online that both ador/hybe and NJ are probably going to have to play a game of chicken right now because whoever sues the other first will have the disadvantage. (I also heard that if Hybe sues them first they can keep using the NJ's name in the meantime or something?)

We know from the press conference that NJ never actually sent any legal notice that they are terminating their contract. They are probably hoping from the press conference that Hybe will sue them first and Hybe is probably waiting to call their bluff.

I'm also not sure if Hybe will have to do an audit? I remember from the ongoing 50/50 case that ATTRAKT sued the Ablume girls a very high amount and they provided no information/backing to support those numbers. The Ablume girls have been tirelessly trying to get the courts to make ATTRAKT prove the number they are suing them for is correct and even countersued ATTRAKT for a smaller amount to show the court that ATTRAKT was lying about their numbers and try to make them look into it.

If ATTRAKT, a much smaller company, was able to sue the Ablume girls who left without showing any statements proving the number they were suing them for was correct i'm sure hybe, who is a much larger company, can get away with it.

 

[UMJI MOODS]

I've been reading online that both ador/hybe and NJ are probably going to have to play a game of chicken right now because whoever sues the other first will have the disadvantage. (I also heard that if Hybe sues them first they can keep using the NJ's name in the meantime or something?)

We know from the press conference that NJ never actually sent any legal notice that they are terminating their contract. They are probably hoping from the press conference that Hybe will sue them first and Hybe is probably waiting to call their bluff.

I'm also not sure if Hybe will have to do an audit? I remember from the ongoing 50/50 case that ATTRAKT sued the Ablume girls a very high amount and they provided no information/backing to support those numbers. The Ablume girls have been tirelessly trying to get the courts to make ATTRAKT prove the number they are suing them for is correct and even countersued ATTRAKT for a smaller amount to show the court that ATTRAKT was lying about their numbers and try to make them look into it.

If ATTRAKT, a much smaller company, was able to sue the Ablume girls who left without showing any statements proving the number they were suing them for was correct i'm sure hybe, who is a much larger company, can get away with it.

Your statement about attrakt and ablume proves my point. The company has not received one cent because it is not a provable figure. You can literally stand in court and hand in a paper with any figure otherwise.

 

[RussianRoulette]

Your statement about attrakt and ablume proves my point. The company has not received one cent because it is not a provable figure. You can literally stand in court and hand in a paper with any figure otherwise.

I think i'm a bit confused, I apologize.

Just to clarify, you're saying Attrakt hasn't received one cent because they lied about being that profitable? (And that's why Hybe/ador is trying to avoid reaching that level?)

 

[UMJI MOODS]

I think i'm a bit confused, I apologize.

Just to clarify, you're saying Attrakt hasn't received one cent because they lied about being that profitable? (And that's why Hybe/ador is trying to avoid reaching that level?)

No. I am not saying anyone has lied. Attrakt has not received any money because they haven't provided sufficient evidence for a settlement. They may be giving a perfect figure. They just have to show due diligence in providing information. Until they give a statement that proves it the ablume members are smart to countersue and lowball the figure forcing the company's proof.
I believe hybe/ador doesn't want to expose where all of their earnings are disappearing to. Turning such a tiny final profit from an initial figure more than 500 times larger is at best a poor business model.

 

[RunningMan]

NewJeans Terminating Contract Press Conference with English Subtitles

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[StrawberryMilkTea]

This wasn't surprising especially after MHJ resigned, wish the girls the best of luck in their route wherever they go but they definitely will be in court given how HYBE has handled things.

 

[Pandaa]

go panda