US EditionHYBE Shares Fall on News of Investigation Into Chairman Bang
- HYBE shares fell amid a South Korean investigation into founder Bang Si-hyuk over alleged fraudulent stock transactions related to the 2020 IPO.
- The probe began after regulators suspected Bang misled early investors in 2019 to sell shares, hiding HYBE’s IPO plans and benefiting from undisclosed profit-sharing with a private equity firm.
- Authorities raided HYBE’s Seoul headquarters and scrutinized a former executive who illegally earned about $176,500 trading YG Plus shares using insider information from HYBE’s investment plans.
- The Financial Supervisory Service called the case “fraudulent unfair trading” and plans to fast-track its handover to prosecutors amid concerns over market transparency and trust.
- HYBE stated all transactions complied with the law, while Bang’s alleged net gain of roughly $291 million from the IPO deals could prompt severe legal consequences if proven.
19 Articles
19 Articles
HYBE Shares Fall on News of Investigation Into Chairman Bang
Amidst new reports about a South Korean investigation into its chairman, HYBE shares fell 6.8% to 266,000 KRW ($192.69) during the week ended May 30. That was the biggest decline for a music stock in a week marked by modest gains and losses. Reports out of South Korea this week said police in Seoul have resubmitted a search and seizure warrant for HYBE chairman Bang Si-hyuk in an investigation into allegations of fraudulent stock transactions…
HYBE Cooperating With Authorities in Insider Trading Investigation
Prosecutors raided the Seoul headquarters of HYBE — the K-pop agency behind such global acts as BTS and Seventeen — on Thursday amid allegations of insider trading involving a former executive. In a statement shared with Variety, the company confirms it is cooperating with local authorities as the investigation unfolds. The Seoul Southern District Prosecutors’ […]
HYBE, Company Behind BTS & LE SSERAFIM, Raided Amid Insider Trading Investigation | Just Jared: Celebrity News and Gossip
HYBE, Company Behind BTS & LE SSERAFIM, Raided Amid Insider Trading Investigation HYBE is being investigated. The massive company that manages BTS, LE SSERAFIM and other major K-Pop acts has been raided as part of an insider trading investigation,…
BTS Management Company HYBE Raided in Insider Trading Investigation
HYBE -- the company that manages BTS and other major K-Pop acts -- has been raided as part of an insider trading investigation ... according to reports out of South Korea. The Korea Times reported early Thursday the Seoul Southern District…
Hybe founder under probe over IPO flaws
Bang Si-hyuk, founder and chairman of the powerhouse K-pop entertainment company Hybe, has been under investigation over charges that he intentionally misled investors ahead of the company's stock market debut, industry sources said Wednesday. According to the sources, the Financial Supervisory Service (FSS), the country's financial watchdog, has been probing Bang on speculation that he had sought to list Hybe on the stock market while stressing…
(Seoul = Yonhap News) Reporter Chae Sae-rom = The Financial Supervisory Service is investigating allegations of fraudulent and unfair trading by Bang Si-hyuk, founder of Hive [352820].
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