A Korean law firm says K-pop stars Baekhyun, Chen and Xiumin are pursuing their longtime label and management company over contracts longer than 12 years.
HYBE will offload its 15% stake to its South Korean rival, marking an official end to the bidding war that erupted over SM.
HYBE, which owns a 14.8% stake in the competing K-pop company, criticized the tie-up with tech company Kakao as one-sided and harmful to shareholders.
