Artist United Denies Insider Trading Allegations
Artist United, a company led by actors Lee Jung-jae and Jung Woo-sung, recently addressed allegations of insider trading. The company stated that when the Financial Services Commission initiated an investigation on December 3, they were informed that the company’s executives and major shareholders were not involved in any undisclosed information misuse. Artist United was asked to cooperate with the investigation due to external suspicions, and they agreed to do so promptly to avoid any disruption to their operations. Despite facing some unfair media coverage, the company conducted an internal audit of current and former employees, confirming that no illegal activities related to undisclosed information use had taken place.
The company expressed concern over the negative impact of these allegations on their stock prices, which have fluctuated dramatically over the past few days. There were concerns about how this could affect their impending merger with another artist company, led by Lee Jung-jae. This merger was seen as a crucial step to strengthen the financial standing of the company.
While the company acknowledges the seriousness of the situation, they are taking legal action to address the false reports about them in the media. It’s important to note that the artist company in question is not actually under investigation, as some reports have inaccurately claimed.
As a result of these developments, stock prices have been unpredictable, but there is hope for a positive outcome. The recent nomination of Lee Jung-jae’s upcoming film for a Golden Globe award has also contributed to the rise in stock prices for both the artist company and Artist United.
In light of ongoing investigations and media scrutiny, Artist United wants to set the record straight and ensure that their shareholders and stakeholders have accurate information to make informed decisions. It’s a challenging time for the company, but they are committed to weathering this storm and emerging stronger on the other side.
