[Official full text] Min Hee Jin, former CEO of ADOR, says, ”This does not mean that the court has accepted HYBE's claims... We will consider exercising our rights”

Former ADOR CEO Min Hee Jin's side has released an official statement regarding the provisional disposition decision. On the 29th, Min Hee Jin's side stated, "The court did not rule on whether the shareholders' agreement was valid.
The court found that even if HYBE was ordered to give instructions to ADOR's directors on how to carry out their duties, the directors were not obligated to comply with them, and therefore the lawsuit was without merit.
Prior to this, the Seoul Central District Court's 50th Civil Division (Chief Judge: Kim Sang-hoon) announced that on the same day, former CEO Min Hee Jin filed a lawsuit against HYBE over the exercise of voting rights.
The court ruled that the provisional injunction was dismissed. The full statement from Min Hee Jin's side is as follows:
The court did not rule on whether the shareholders' agreement was valid.
The court ordered HYBE to issue executive orders to ADOR's directors.
However, the ADOR directors were not obligated to comply with the order, and therefore the lawsuit was without merit.
We would like to reiterate that the validity of the shareholders' agreement has not been denied. The shareholders' agreement signed between HYBE and former CEO Min Hee Jin remains valid.
According to the shareholders' agreement, Min Hee Jin's term as ADOR's CEO is guaranteed until November 1, 2026.
We again request that the ADOR board members appoint former CEO Min Hee Jin as CEO at the ADOR board meeting scheduled for October 30, 2024.
If HYBE and the directors of ADOR appointed by HYBE violate the Shareholders Agreement and do not re-appoint former CEO Min Hee Jin as CEO of ADOR, former CEO Min Hee Jin will:
We will actively consider whether to exercise the rights of former CEO Min Hee Jin due to the breach of the shareholders' agreement at HYBE.
This decision does not mean that the court accepted HYBE's argument.
No. We encourage HYBE to make wise decisions in order to faithfully implement the Shareholders Agreement and for the development of "NewJeans" and ADOR.