S.M. ENTERTAINMENT SLIDES ON NEWS OF LEGAL FEUD


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forbes,korea

**S.M. ENTERTAINMENT SLIDES ON NEWS OF LEGAL FEUD**

Shares in S.M. Entertainment Co fell after several media reported on Saturday that members of Tong Bang Shin Gi (TVXQ), a South Korean boy band, filed an injunction in a Seoul court to terminate their contract with the talent agency.

‘For investors, it’s reasonable to worry over the news, since Tong Bang Shin Gi is one of the major sources of revenue for SM Entertainment,’ said Kim Chang-kwon, an analyst at Daewoo Securities.

S.M. Entertainment could not be reached for a comment.

S.M. Entertainment shares fell 10.06 percent to 3,755 won as of 0141 GMT, while the junior Kosdaq rose 0.82 percent.

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