Shareholders and Civic Groups Are Threatening To Sue Yang Hyun Suk Due To Seungri’s Scandal
Shareholders of YG Entertainment are currently unhappy with the company as their stocks have plummeted in value by over 25% since the scandal surrounding Seungri began.
Massive international conglomerates like LVMH have pulled their investment from YG following the outbreak of the scandal. The company has lost just over 55 billion Won ($48.5 million) in investments. Stockholders are now demanding compensation from Yang Hyun Suk and the company for the significant losses they have incurred.
“Measures for People’s Livelihoods”, a civic group, has also gotten involved. They have filed a complaint with the Seoul Central District Prosecutor’s Office against Yang Hyun Suk for negligence involving the scandal. A representative said in a statement:
A public figure who exerts great influence in society shouldn’t be protected when they lack ethics and morality. Companies have been consistent in denying involvement in the event of inappropriate remarks and deviant acts made by celebrities. We need to make it clear that the company is also responsible.
– Measures for People’s Livelihoods representative
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