On June 1, SM released a detailed statement explaining their reason for refuting the grounds of contract termination and instead did their process of contract renewal process and claimed that ‘outside forces’ are influencing their decision.
After seeing the official statement released by SM Entertainment, the members’ legal representative also revealed a detailed statement disapproving of the claims made by the company.
The law firm further claimed that SM Entertainment has a rule that the artists can see the records, but the copies cannot be given at a cost, because the records of earnings and balances can be leaked to outsiders.
However, the artists have the right to see their financial records and consult professionals from outside. In SM Entertainment’s contract, there is just one clause that states that they can formally object to any part of the documents within 30 days of being granted access after reading any documents.
They also said that they have consistently requested their financial records but SM Entertainment has refused the request, compelling EXO’s Chen, Baekhyun, and Xiumin to take legal action against the company and request their contract termination.
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