(Photo=HYBE)

 

[Alpha Biz= Reporter Kim Jisun] Employees of HYBE's affiliates who sold their shares knowing about BTS's upcoming hiatus have been brought to trial.

The Seoul Southern District Prosecutors' Office announced that three former and current employees of HYBE's affiliates have been indicted without detention on charges of violating the Capital Markets Act.

According to the prosecution, these individuals were aware in advance that a video announcing BTS's temporary group activity suspension due to members' military enlistment would be released on BTS's official YouTube channel on June 14, 2022.

Following the video's release, HYBE's stock price plummeted by over 24%, but the accused managed to avoid losses by selling 3,800 shares of HYBE stock just before the video was made public.

 

 

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