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Artist Unitedhas issued an official statement addressing allegations of insider trading.
On December 6, reports surfaced claiming that the company was under investigation for misuse of non-public information.
It is true that we are cooperating with the financial authorities' investigation.
However, this is strictly in the capacity of assisting their inquiry into suspects involved in insider trading.
Investigators have confirmed that none of our executives or employees are implicated in any wrongdoing.
We are fully cooperating with the investigation and will actively address misconceptions about the company and our largest shareholder.
We will actively respond to resolve misunderstandings aboutLee Jung JaeandArtist United.
The stock price surged tenfold at the time.
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