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Employees of HYBE are Facing Investigation Related to ‘Utilizing Insider Information’

by Serena Martinez / Apr 29, 2023 03:03 PM EDT
HYBE Corporation

Some of the employees of the Korean talent company giant HYBE are currently under investigation due to utilizing inside sources to their company shares in order to gain a significant margin in the profit.

It has reached to the investigator's attention some of HYBE's own employees sold their own shares in the company just before the release of the YouTube video of BTS members announcing a temporary pause of their group's activities. The said video was pre-recorded was released to the public on June 14, 2022.

Just the day after this video was published. The company's price went down by 25%. Even before this video release, HYBE's shares declined by 11%, which 3% per day. These patterns were then linked to a suspicion that some employees may have taken advantage of company "insider information" they have to sell their shares and gain a profit.

HYBE Corporation, formerly known as Big Hit Entertainment, is a South Korean entertainment company founded in 2005 by Bang Si-hyuk. The company is best known for managing the popular K-pop group BTS (Bangtan Sonyeondan) and for producing a range of music content and entertainment-related products.

In addition to managing BTS, HYBE also manages several other artists and groups, including Tomorrow X Together (TXT), Lee Hyun, and solo artist, J-Hope. The company has also collaborated with other music labels and agencies to co-produce content and promote artists.

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Tags: HYBE

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