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EXO's Chen, Baekhyun and Xiumin announce legal action against SM Entertainment and apologize to fans for ongoing feud
EXO-CBX released a new statement addressing the lawsuit filed by SM Entertainment against them. The members mentioned that they will also be taking legal action.
EXO-CBX's Chen, Baekhyun, and Xiumin held a press conference earlier this week in which they criticized SM Entertainment over the music fee distribution, which was agreed upon. Later on June 12, SM Entertainment confirmed that they filed a lawsuit against the EXO members.
EXO-CBX responded to the situation and announced that they would be taking legal action. They apologized to fans for making them worried over the same matter as last year.
EXO's Chen, Baekhyun, and Xiumin to file a lawsuit against SM Entertainment
On June 14, EXO-CBX released a statement addressing the ongoing feud with SM Entertainment. The members mentioned that they proposed an agreement to pay a fee for SM Entertainment's music, assets, and name instead of 10 percent of their revenue, but the agency ignored their proposal and went ahead with the lawsuit.
They continued and added that SM Entertainment filed a lawsuit first and they will cooperate by revealing everything, including their negotiations from last year. They added that the distribution of profits has always been doubted and hence they will file a lawsuit against SM Entertainment over the distribution of profit and reveal to the court that the agency's system is wrong.
They stated that through the complaint filed to the Fair Trade Commission regarding the unfairness of Chen, BAekhyun and Xiumin's exclusive contracts, they intend to receive a proper judgment from the law.
Lastly, they apologized to fans for causing them disappointment and anxiety regarding the same issue as last year. They assured fans that they would minimize releasing official statements and would resolve the situation quickly.
More about EXO-CBX and SN Entertainment's ongoing feud
In the press conference held on June 10, Chen, Baeukhyun and Xiumin's agency, INB100, claimed that SM Entertainment failed to meet the 5.5% music record distribution fee agreed upon last year. They added that SM Entertainment unfairly demanded 10% of sales for EXO-CBX's individual activities and did not provide existing settlement data.
SM Entertainment denied these claims and stated that the members are enjoying the fame of the EXO name. On June 12, they filed a lawsuit against the EXO members Chen, Baekhyun and Xiumin.
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