Is LSM having a bad day?

purportedly LSM approached Hybe first this time around

[BDS movement @BDSmovement]

Join the Global Feminist Action tomorrow and mobilise for Palestine!

"We will not remain silent while life is destroyed before our eyes: the feminist struggle of the Global South stands up in its defence and against all forms of oppression."
#GazaGenocide
https://t.co/u5TWCfKFLZ

[Is LSM having a bad day? @lsmbadday]

Yes

[BTS_official @bts_bighit]

🍸슈취타 EP.20 TEASER
(https://t.co/o6hW62Tg70)

#슈가와취하는타임 #슈취타 #SUGA #슈가

[Is LSM having a bad day? @lsmbadday]

Yes!

[Is LSM having a bad day? @lsmbadday]

Probably

[Is LSM having a bad day? @lsmbadday]

😳

[Is LSM having a bad day? @lsmbadday]

*a bad month

[Is LSM having a bad day? @lsmbadday]

no comment

[TMIKpop @tmikpop]

EXO members Baekhyun, Xiumin, Chen have terminated their contracts with SM Ent. In a statement issued by their attorney Lee Jaehuk

[Is LSM having a bad day? @lsmbadday]

@seesawtrash_ wtf

[Is LSM having a bad day? @lsmbadday]

*a bad month

[🥢BTS ⟭⟬ Merch⁷⟬⟭🔍⍤⃝🔎 @BTSMerchUpdates]

BTS Presents Everywhere Festa 2023 10th Anniversary

Partners and offers
https://t.co/gcDu4SfXDi

[Is LSM having a bad day? @lsmbadday]

Yes

[TMIKpop @tmikpop]

According to KED (Korea Econ Daily) Lee Sooman and Hybe are at odds over the non compete clause in the SM share buy agreement. Lee Sooman has asked Hybe to lift the non compete ban (which would allow him to do music business in Korea) but Hybe has refused.

[Is LSM having a bad day? @lsmbadday]

Tweets that did not age well

[Is LSM having a bad day? @lsmbadday]

LSM (unfortunately) doesn’t have enough bad days for me to utilize an API for this account, so I’ll be sticking around 🫡

[Is LSM having a bad day? @lsmbadday]

Yep

[Is LSM having a bad day? @lsmbadday]

Whew

[Is LSM having a bad day? @lsmbadday]

@ardorminjoon Oh. Oh wow.

[Is LSM having a bad day? @lsmbadday]

YES

[TMIKpop @tmikpop]

Dispatch releases a 123 point article alleging Lee Sooman received 744.3B from SM through stock manipulations and direct embezzlement. Highlights (bc its so long)

1) Interpol Warrant. In 2003, LSM embezzled 1.3B to acquire SM stocks and he falsely stated that

[Is LSM having a bad day? @lsmbadday]

😭

[TMIKpop @tmikpop]

Chris Lee, co-CEO of SM Ent, has delivered a video message on Youtube via his own channel discussing LSM's potentially engaging in more tax evasion and fraud via a Hong Kong company called CT Planning Limited but importantly (my words)

[Is LSM having a bad day? @lsmbadday]

And we’re back!

[Kpop Charts @kchartsmaster]

According to media outlets, Min Hee Jin and Bang Si Hyuk are being appointed as potential new directors for SM Entertainment.

[Is LSM having a bad day? @lsmbadday]

Yes

[TMIKpop @tmikpop]

4) LSM has sold all of the shares held by him in Dream Maker and SM Brand Marketing to Hybe and has agreed not to receive any remaining royalties.

Through this Hybe has resolved most of the governance issues btw LSM and SM Ent

[Is LSM having a bad day? @lsmbadday]

Yes!

[TMIKpop @tmikpop]

3) LSM's remaining shares can be purchased by Hybe immediately after the approval of the acquisition. The remaining shares held by LSM are not for the purpose of exercising any management rights.

Note: If a company buys 15% of a publicly traded company, it requires FTC approval

[Is LSM having a bad day? @lsmbadday]

Yes...

[TMIKpop @tmikpop]

2) LSM has delegated all voting rights to Hybe for the SM 2023 regular meeting (to happen in March) and will actively cooperate in appointing a person designated by Hybe to the board of directors

[Is LSM having a bad day? @lsmbadday]

Yes.

[TMIKpop @tmikpop]

1) LSM can only produce outside of Korea for the next three years. He is not allowed to hire SM employees or sign contracts with SM artists for the next three years.