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On Monday, December 29, the South Korean media outlet, Newsis, reported that HYBE's stocks reportedly rose by 1.43% following the announcement of NewJeans' Danielle's exclusive contract termination. Earlier the same day, ADOR released a statement updating their current status with all the NewJeans members following the court's final verdict.
Previously, the court denied the K-pop girl group's contract termination with the agency and urged them to continue under ADOR until the expiration of their exclusive contract. In regard to the same, ADOR explained that most members, especially Hanni and Minji, have returned to Korea with their families and have decided to respect the court's decision by stating under the agency.
However, they expressed that it would be difficult for Danielle to continue working under the agency, and she was also subsequently removed from NewJeans. The reason behind the same was due to the idol and former ADOR CEO, Min Hee-jin, being heavily responsible for the legal dispute. Therefore, they also revealed that they will be suing the idol for the damages, which is expected to amount to over $7 million.
Amidst these announcements, the report expressing the stock rise sparked several reactions from netizens. People expressed that HYBE's stock increase might denote people's delight in Danielle's departure from NewJeans, and also speculated that many might have invested in the company after learning about the potential downfall or disruption in the K-pop girl group, NewJeans. Here are a few fan reactions regarding the same:
"just nasty 😭" said a fanMore fans and netizens also expressed their reactions to the recent rise in HYBE's stocks.
Now imagine if it was hanni💀🙏🏽
they predicted an $80M USD profit from Daniel's penalty fee, everyone's buying shares, lmao
Who tf said hybe biggest lost?
Others also shared their thoughts and opinions regarding the same.
The fact that it's real is killing me
ADOR releases statement announcing NewJeans' Danielle's departure from agency and group
On Monday, December 29, ADOR released a statement expressing updates regarding their relationship with the NewJeans members, Minji, Danielle, and Hanni. The announcement revealed that Minji and Hanni had long discussions with ADOR, along with their parents, on their return to the agency, and agreed to follow the court's decision.
For Danielle, the agency revealed the following through their statement:
"However, in Danielle’s case, we have determined that it will be difficult for her to continue working with us. Therefore, we have notified her of the termination of her exclusive contract. Furthermore, we plan to hold one family member of Dani elle and former CEO Min Hee Jin, who are significantly responsible for causing this dispute and the delayed return of NJZ, legally accountable."The agency continued,
"During the conversation, ADOR learned that the members had been receiving distorted and biased information for a long time, leading to various misunderstandings about the company. The company and the artist agreed that, to restore the love of the fans and the public, it would take time to resolve the misunderstandings completely."They concluded the statement with,
"Furthermore, we have decided to take the opportunity to address the various controversies that arose during the dispute, and we are currently discussing the timing and method."Therefore, fans and netizens have been eagerly anticipating the upcoming activities and proceedings of NewJeans under ADOR.
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Edited by Aishwarya Sai
English (US)