FIFTY FIFTY has reportedly sued the CEO of their own label and entertainment agency, ATTRAKT, for using the group's profits to repay his own debts.
The girl group went viral following the release of their hit song "Cupid," which has 152 million streams on Spotify.
FIFTY FIFTY's massive success with their song landed them in the "Barbie" movie's official soundtrack. They dropped "Barbie Dreams" featuring Kaliii; the song boasts over 18 million streams on Spotify.
While these numbers are insignificant compared to other artists, FIFTY FIFTY has defied the odds by being a rookie KPOP group with their massively successful songs that have made its way up the Billboard music charts.
According to reports, FIFTY FIFTY is the second KPOP act to land on the Adult Contemporary radio chart, a feat that was previously achieved by BTS, and no other act from South Korea.
However, with their success comes some trouble which has led to the lawsuit the four-membered girl group filed against their company's CEO, Hong Joon Jun.
FIFTY FIFTY Legal Battle Over Revenue
According to reports, Saena, Aran, Keena, and Sio filed a complaint against Jun for breach of trust with the Gangnam Police Station.
They claim that Jun violated the Act of Aggravated Punishment for Specific Economic Crimes or simply put, he embezzled funds. The said funds allegedly came from FIFTY FIFTY's revenue.
"CEO Jun Hong Joon has revealed that Star Crew Entertainment (Jun Hong Joon's other company) had allocated the initial advance payment, which was originally received from the music distributor, towards undisclosed expenses," read the statement released by Barun Law Fim, who represents the girl group.
"This amount was subsequently included under the investment costs for the girl group under the pretense of the said investment; consequently, the responsibility for the advance payment debt was transferred to ATTRAKT. This financial liability has come to light, with proceeds generated from FIFTY FIFTY's digital music and album sales went toward repaying this debt."
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FIFTY FIFTY Reassures Fans
Following the explosive reports came the KPOP group's handwritten statement explaining their side of the story.
They lamented how they wanted justice to be served and the truth be exposed once and for all.
"We would first like to begin by apologizing to everyone who loves us for causing much concern," the statement read. "We know that there are fans who believe in us and are waiting for us. And that is why, the members of FIFTY FIFTY decided to put our hesitation aside and stepped up to share our position."
The KPOP group also denounced the rumors, "misunderstandings and accusations."
"Nevertheless, we believe there is a truth that needs to be uncovered despite these difficulties. And we have strong faith that our fans will understand us and support us even more when it is clarified."
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