The main reason for rescheduling the early shareholder meeting on December 13th, 2024, is to address the hearing on December 18th, 2024, about whether the suspension of trading transactions should be lifted.
From Dart filings. “In this regard, in accordance with Article 49 of the Securities Market Listing Regulations, we will determine whether the company is subject to review by the Corporate Review Committee. In accordance with the decision on whether or not the Company is subject to deliberation by the Corporate Review Committee (as of December 18, 2024, the period can be extended within 15 business days if additional investigation is necessary), 1) if it is determined to be subject to deliberation, it will inform you of the matters related to the deliberation process of the Corporate Review Committee (continuation of trading suspension), and 2) if it is determined that it is not subject to deliberation, it will inform you of the matters related to the lifting of the suspension of trading transactions. ” https://investorshub.advfn.com/uimage/uploads/2024/11/27/wdgqmScreenshot_27-11-2024_103121_dart.fss.or.kr.jpeg Dart: https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20241127800748
I think the reason for the allegations of embezzlement and breach of trust was to remove the incumbent management and directors. One of the plaintiffs was/is an outside director. Maybe they were making deals that lined their pockets and weren't beneficial for the company.
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