EXO-CBX Files Lawsuit Against SM For Unfair Profit Distribution
SM Entertainment has officially filed its lawsuit against EXO-CBX members Chen, Baekhyun, and Xiumin.
The lawsuit refers to the terms of the agreement between SM Entertainment and the three members, requesting that the three members follow the previously agreed-upon conditions.
EXO-CBX has responded to this by filing a lawsuit against SM. Below is the official statement.
“EXO-CBX would like to inform you of our position regarding the lawsuit filed by SM Entertainment.
- SM’s answer was a lawsuit.
On June 12, they filed a lawsuit against EXO-CBX. At the press conference on June 10, we stated SM’s unfair actions, as it demanded 10% of sales while not keeping its promise of the 5.5% distribution fee.
We then asked again what SM’s position was regarding our statement. Also, we proposed paying usage fees for SM’s assets in exchange for 10% sales, but they ignored our proposal.
As a result, SM did not respond to our negotiations and immediately took legal action.
- We will do our best.
With SM filing a lawsuit first, we will take action by disclosing everything, including last year’s negotiation process.
Also, we will also file a lawsuit against SM to claim the settlement amount (profit distribution). Through the procedure, we will claim our legitimate rights through the settlement data as stipulated by the exclusive contract. We will also reveal that SM’s settlement system is wrong.
By filing a complaint with the FTC, we will also receive fair judgment regarding the unfair treatment of the exclusive contract.
- A word to our fans
We truly apologize to our fans, who deserve nothing but happiness, for causing disappointment due to the same problem as last year. We will try to minimize the amount of statements and resolve the situation.
We also promise to remain as Chen, Baekhyun, and Xiumin, who will forever make special memories with you. Thank you for reading the long statement. We apologize once again for making you feel more than you should regarding this matter.”
Netizens, however were tired of the battle between them and wished for the problem to be solved quickly.
- “I feel like because they didn’t receive the response they expected from the emergency press conference, now they’re saying they will minimize statements. Before, they said that settlement data had other member’s private information and made a fuss about…what is all this now..so disappointed.”
- “Are they stupid? So they didn’t pay for it before?”
- “Yea, you guys really need to feel sorry to your fans…”
- “Why is there so much noise with EXO…I feel bad for the other members. Almost more than half the members are just making problems.”
- “Is this really a statement released by the agency? It looks like someone’s personal diary entry.”
- “They’re really going all out here. You except to receive support after making the fans and other members go through this? What should I do now as someone who liked only guys for 11 years.”
- “You didn’t pay all this time? Just pay it. And you guys made a fuss with a press conference. What else could SM do besides file a lawsuit? Negotiations are out the window, good luck with the lawsuit.”
- “They really need to take away their names now at this point.”
SM Entertainment Claims EXO-CBX Just Wants To Take Advantage Of EXO’s Name And Plans Legal Action
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