The case is being investigated.
It was reported on May 31, 2023, that staff from HYBE are being investigated for insider buying and selling. It was reported that they bought their shares after gaining info inside the firm.
Three members of workers had been positioned below suspicion of insider inventory buying and selling utilizing info concerning the actions of world idol teams. The Financial Supervisory Service’s Capital Market Special Judicial Police despatched the circumstances to the Seoul Southern District Prosectors’ Office with indictment opinions.
According to the envoy, these three workers had been in control of idol-related work in a label inside HYBE. They had bought their inventory holdings earlier than news that BTS would briefly be suspending group actions formally broke. After the short-term suspension was introduced on June 14, 2022, HYBE shares plunged to 24.87% the very subsequent day. By promoting the shares earlier than the news broke out, these workers averted losses of as much as ₩200 million KRW (about $152,000 USD) in complete, based on the market costs on June 15, 2022.
The three workers had been accused of violating Article 174 of the Capital Markets Act, due to the disposal of their shares, after internally studying about BTS’s plans. The Financial Supervisory Service plans to completely examine and sternly reply to any actions that undermine the truthful buying and selling order of the capital market.
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