released a statement on the matter, stating the label and Kakao engaged in illegal practices in order for Kakao to become the second largest shareholder in SM Entertainment."On January of this year, SM Entertainment's co-CEOs Lee Sung Soo and Tak Young Joon agreed to Align Partners' proposal without consulting Lee Soo Man, who is the largest shareholder in the company.
It's clearly a violation of commercial law and the articles associated with the law for SM Entertainment's board of directors led by the co-CEOs to issue new shares and convertible bonds to third parties at a time when there's a dispute with the company.
najaemscoffee
I always support you Lee Soo man
bro’s suing his own company LMAOO
Him suing himself was not on my Bingo for this month
ppl on the comments really dont know a thing bruh. they had this some kind of narrative on their heads and going on with it, without reading anything. lets not forget those who just suddenly “kArMA” like who u beefing with 😭
The new SM co-CEOs should admit their illegal dealings and stop the lawsuit asap. Looks like they pushed forward with Kakao, thinking LSM wouldn't dare claim his legal rights and go against SM. CEOs & Board need to apologize so idols and staff are not traumatized or stigmatized.
Oh boy! This looks like it’s going to take some time. Another kpop scandal. 🙄🔥🔥🔥
He's the major shareholder but those board of directors which he trusted betrayed him for engaging illegal practices so that Kakao would take the largest share in the company to take control of it.
SONERojas LOL
WHAT
People be commenting nonsense without reading the article. Do some research before commenting.
People don’t know anything about the case and just comment nonsense 🙄
Soo Man fighting 😁👍
Messyyyy plus he did his own money laundering act. Shouldn't be suing if he knows what's good for him lol
Imma need to properly read up on this
I dunno but aren't they one thing
“I think Kakao violated the law. Also, I’m not sure what you guys expect, but none of the labels Kakao has a significant stake in do very well.”
That's crazy bro is suing his own company 😭😭
Is it just me or is there an unusually high number high profile lawsuits going on in kpop these days?
does this mean lucas is leaving nct?!? 🤭
Because Kakao got most of his shares?
This represents how I feel about this
Imagine having to go against your own company that you've created...sad life.
They doing anything for publicity. bc their artists ain’t making enough noise. poor company. tanking sooo bad🤭
Yes he did sell a fair share of his shared because of the taxes but that means he paid them all He still owns some shares as far as I've readed (article) last time Even if the board wants him out doesn't mean he isn't necessary for the company He has a good vision you know
SM should sue him back for his kwangya obsession
The picture I didn't see coming. Suing with the company he had founded.
Go get their ass?
Wtf is happening
Did Dad Lee leave SM
Nyimak 🍿
This is better than any k drama at the moment 🍿
NICE 🔥 I thought he was SM.. DUDE BASICALLY MADE SM AND THE PEOPLE WITH THEIR ILL AGENDAS THREW HIM OFF LIKE ....
No entiendo demanda a su propia compañía?
Karma is an 💜🅐🅡🅜🅨⁷⟬⟭💜
Que
Oh the irony of Lee Soo Man accusing others of illegal activities
Aww
Isn't he the CEO like the boss boss of SM? isn't he the one who create some of the biggest names in kpop? What is going on
lamgsung keinget sama drakor drakor yg kalo soal politik mesti ada yg main belakang
Kalau udah saham sahaman gak bener dah
cepat sembuh SM, kasian idol ku
Sm contra Sm
The end of a love story!
I am support
Sunny shouldve got the inheritance instead
🤦🏻♀️
I support LeeSooMan! Just take your company back, Sir and take care of your 'kids'!
🍿🍿
Lol is he suing his OWN company? Lol is he not the ceo?
teiiini 🤣
Hes sueing his own company ?
aespa dungeon area now extended.
Doesn't SM stand for Soo Man? Just like JYP with Park Jin Young and YG with Yang-gun.
Good luck
Do anything but don't let it affect groups and artists
If things go from worse to worst. I wonder how his kids would feel? I mean Suju, SNSD, Boa etc. Clearly the CEO's & prob the other board don't want LSM to be part of SM's future hence we are in this situation.
So bad to see lee soo man to sue his own company 🥺😱
Hmm
OMG?