Soribada, Temporary General Meeting Request Dismissed... "We Will Settle Long-Term Litigation"

[Asia Economy Reporter Jang Hyowon] Soribada announced on the 13th that the Seoul Central District Court has dismissed the lawsuit filed by Jungbu Corporation seeking permission to convene a shareholders' meeting.

The court stated, "Soribada held the extraordinary shareholders' meeting requested by Jungbu Corporation on August 28 of last year on October 20 of the same year, and since the agenda requested by Jungbu was conducted as the purpose of the meeting, there is no need to hold the shareholders' meeting again." Accordingly, the court rejected Jungbu's request for permission to convene the shareholders' meeting.

A Soribada official said, "Jungbu Corporation's plan to prolong the lawsuit and hold the shareholders' meeting again has been thwarted," adding, "The court decided that since the shareholders' meeting with the agenda requested by Jungbu was already held, permission to convene it cannot be sought, and this will have a significant impact on other ongoing lawsuits."

He continued, "We will completely resolve the prolonged dispute, restore the company's damaged image, accelerate business efforts, and achieve a rise in stock prices," emphasizing, "We will also strive to successfully conclude the remaining lawsuits initiated by Jungbu."