Lee Jung-jae faces fraud accusations amidst a management dispute with RaemongRaein

Actor Lee Jung-jae, Artist United's owner, is the target of a fraud lawsuit from drama production firm RaemongRaein. According to the most recent information, which was verified on August 10th, renowned drama production company RaemongRaein has filed a lawsuit against him.

Conversely, Artist United, the firm founded by Lee Jung-jae, responded to the RaemongRaein, saying that their accusations are untrue.

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Why has RaemongRaein accused Lee Jong-jae of fraud?

In exchange for the purchase of RaemongRaein's stock, Lee Jung-jae allegedly offered several chances for the company's expansion, including mergers with significant entertainment management labels, chances to make use of the actor's network, and investments from a significant American talent agency.

Artist United asserts RaemongRaein was experiencing financial troubles at the time the investors, Lee Jung-jae, and Artist United legally committed to an investment contract. As per the prior agreement, Kim Dong-rae, the CEO of RaemongRaein, declined to cede the management powers of the firm, even if the investors completed their obligations and paid the price for the issuing of additional stocks.

In addition, Kim Dong-rae persuaded 12 minority shareholders to filing a lawsuit against Artist United for fraudulently obtaining RaemongRaein's shares when the investors requested a shareholder meeting in June of this year. Lee Jung Jae's representatives responded by saying,

"It is absurd that Kim Dong Rae, who failed to fulfil his end of the contract even after the investors diligently fulfilled theirs, has sued our company."

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Squid Game starring Lee Jung-jae to be released soon

Squid Game 2 will launch on Netflix on December 26, just after Christmas, according to the producers. The creators also revealed that the third season will be the last one on their official Instagram account.

"The actual match starts. On December 26, Squid Game Season 2 will be released. The Final Season will premiere in 2025," stated the official Netflix Instagram accounts.

Lee Jung-jae and Hwang Dong-hyuk even won Emmys for their contributions to the first season. Variety reports that Park Gyu-young, Jo Yu-ri, Kang Ae-sim, Lee David, Lee Jin-uk, Choi Seung-hyun, Roh Jae-won, and Won Ji-an are among the new cast members of the series' second season.

A fresh group of competitors was shown in the leaked teaser playing a fatal game while being observed by workers dressed in red and black as they fall on a running track. Hwang Dong-hyuk, an executive producer, writer, and director, expressed his enthusiasm for the upcoming season.