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Hive's shareholder contract lawsuit was completely lost after Hive betrayed Min Hee-jin first.
2026.02.20 15:11
The ruling on the shareholder contract lawsuit between Hive and former Adore CEO Min Hee-jin has been released.
The first round ended with Hive's complete defeat.
The court pointed out in its ruling that Hive was the first to bring the conflict with CEO Min Hee-jin to the surface.
The conflict still remains internally regarding Min Hee-jin's protest emails sent on April 3 and 16, 2024, and the conflict fully surfaced on April 22 due to Hive's exclusive article.
The court explained that Min Hee-jin's press conference, which followed immediately, appeared to be based on the right to rebuttal.
In addition, the court dismissed all of Hive's claims, such as former CEO Min Hee-jin's takeover of management rights and the takeover of New Jeans, as mere idle talk that was not put into action and as a scenario based on Hive's consent. The court also ruled that Hive had broken mutual trust by hastily launching an audit of Adore and publishing articles in the press.
Hive was not satisfied with the first trial result and immediately filed an appeal.
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