[NEWS!] SM Entertainment Refutes DBSK's Claims! Stock Dropping.

SM Entertainment refuted DBSK's claims and stated that since their debut up until this month (July 2009), DBSK has earned more than 11 billion won (over $9,000,000). They stated that despite the huge losses and budget problems that SM Entertainment has had these past years, the boys were paid royally (around $1,800,000 each) and that they also received high end products as gifts (cars, music players, LCD TV's, etc.) SM Entertainment stated that the $9,000,000 earned doesn't include the money that DBSK received from Endorsements/CF's, Events, Photo Ops, Signings, Japan sales, etc. SM Entertainment also stated that there is no law stating that a contract for an artist cannot be sign for more than 7 years. They concluded saying that they will try to resolve these issues immediately.

Seems as though LSM is trying to make him look like the victim here. Too bad for him. All this negative attention is causing the company's stock to drop. It fell down around 10% already. Here's info according to Forbes:

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

S.M. Entertainment Co fell after several media reported on Saturday that members of Dong Bang Shin Ki (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 Dong Bang Shin Ki 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.

credits: allkpop, forbes & cassiopeialuv

I hope this whole issue will be resolved soon...
Please don't let anything stupid happen.
LSM, i'm telling you. It's karma.
Back to bite you in the face. -___-