The following case was handled by Attorneys Wonjoong Kim and Heonkyu Lim of Hanbyul Law Firm.

Poliplus, B&B, and other 3 companies

Contact with the shareholders' management committee of Miju Theme River

Minority shareholders of publicly traded companies that have been delisted from the KOSDAQ market are launching a series of court cases against the companies. 

According to the financial investment industry on the 16th, there are currently three companies, including Poliplus, CoA&I, and B&B Sungwon, whose minority shareholders are currently conducting or preparing legal disputes against the companies that were delisted from the stock market. 

Law firm Hanbyul filed a lawsuit in April at the Suncheon Branch of the Gwangju District Court on behalf of 215 minority shareholders of Poliplus, seeking to cancel the shareholders' meeting resolution and damages for neglecting to delist the company. Another 700 minority shareholders of PolyPlus are also reportedly preparing for further litigation with a law firm by opening a cafe on the Internet. 

PolyPlus, a rubber plastics manufacturer, was delisted from the KOSDAQ market on March 1 after a cleanup period following the company's decision to delist on March 18 due to the rejection of the auditor's opinion on the scope of the audit. An audit disagreement due to audit scope restrictions means that the accounting firm cannot accurately verify the company's financial status due to lack of data.

The minority shareholders of CoaS&I and B&B Sungwon, which were delisted on the 17th of last month and the 1st of this month, have also entered into a legal dispute. According to the Nevistock Shareholder Management Committee, a company that provides legal and administrative support to minority shareholders, minority shareholders of the two companies plan to file a request for a provisional injunction to see the accounting books as the companies refused to allow them to see the accounting books. The minority shareholders plan to file a lawsuit in court if they find issues such as embezzlement and embezzlement in the accounting books. An official from the Shareholders' Management Committee said, "We will proceed with further lawsuits if there are grounds for lawsuits, such as violating the articles of association by viewing the books directly." 

It is also reported that minority shareholders of Americas Steel, which was delisted last month due to a note default, have also contacted the Shareholders' Management Committee. However, it is reported that it is unlikely that they will file a lawsuit as the court decided to start the rehabilitation process on the 15th.