LOONA will continue their activities despite the fact that the appeal of the parent company of their agency over the return of investment by shareholders has been rejected.
An official from Blockberry Creative, the girls’ agency, told Korean media outlets on September 14 that, “The company is making utmost efforts for the comeback and activities of LOONA, which are currently being prepared and proceeding smoothly.”
According to legal sources earlier, Donuts, the second-largest shareholder of Blockberry Creative, filed a lawsuit against Polaris, the parent company of the agency, saying it invested 3.5 billion won, but they did not fulfill the contract.
In the first trial, the court ruled that “Polaris should return the entire investment to Donuts,” and Polaris appealed, but the Seoul High Court rejected the appeal and upheld the first trial’s ruling.
Meanwhile, LOONA has been very active since their debut in 2018. Earlier, in February, they made their comeback with the second mini album ‘#’, along with the title track ‘So What’, which won them their first music show trophy on Mnet’s ‘M Countdown’.
Most recently, the group celebrated their 2nd debut anniversary by releasing their official lightstick, drawing attention from even non-fans due to its huge size.