[Full text] ”EXO-CBX” files lawsuit against SM Entertainment for settlement

INB100, the management office of EXO-CBX, a unit of the Korean boy group EXO, has made its position clear regarding the lawsuit filed by SM Entertainment.
Below is EXO-CBX's position on the lawsuit filed by SM Entertainment and their comments to fans.
"EXO-CBX"'s position regarding the lawsuit filed by SM Entertainment and our legal response
We would like to inform you as follows: 1. SM Entertainment's answer was a lawsuit. On the 12th, SM Entertainment filed a lawsuit against us.
At the press conference on the 10th, we announced that SM Entertainment is not keeping its promise of a 5.5% distribution fee and is instead insisting on a 10% fee on sales.
We pointed out the injustice of the decision. We have once again asked SM Entertainment what their position is regarding our complaint. Also, at the press conference, we decided to pay SM Entertainment 10% of the sales instead of 10%.
We also actively proposed an agreement to pay royalties for the use of SM Entertainment's music and other assets, as well as their name, but SM Entertainment ignored this.
In the end, SM Entertainment did not respond to our negotiation proposal and immediately took the dreaded sword of legal action.
2. We will do our best. Since SM Entertainment filed the lawsuit first, we will disclose everything, including last year's negotiation process, and work proactively.
In addition, we will file a lawsuit against SM Entertainment to demand compensation for our fees, something that has always been a mystery to us. Through the legal process, we will receive accounting and settlement documents in accordance with the law and the exclusive contract.
We will continue to assert our legitimate rights and the injustice of SM Entertainment's billing system will also be revealed in court.
And we received a fair legal ruling through a lawsuit filed by the Fair Trade Commission regarding the unfairness of the exclusive contract.
3. Comments to fans. I'm sorry that I caused anxiety and disappointment to my fans who always give me love and support and who should always be happy, due to issues like last year.
We are truly sorry. In the future, we will try to minimize statements and resolve this situation as quickly as possible. We will also create a channel where we can share the precious memories we made with you forever.
I promise to remain as EN, BAEK HYUN, and XIUMIN. Thank you for taking the time to read this long message. I apologize for making you feel more emotional than necessary.
plug.