Align Files for Preliminary Injunction Against DENTIUM to Inspect Accounting Records, etc.—Third Round in Management Control Dispute
Filed with the Suwon District Court; confirmed via DENTIUM’s public disclosure on the 3rd
Requirement to Allow Access for 30 Days, Including Electronic Records and Cloud Data… 5 Million Won Per Day for Noncompliance
[Edaily Reporter Kim Seung-kwon ] DENTIUM(145720)has entered a new phase in its legal battle with the activist fund Align Partners Asset Management. This comes as Align Partners has filed a motion for a preliminary injunction seeking access to and copies of the company’s accounting records. The legal battle between the two sides—which has continued since the proxy fight at the annual general meeting last March, including a motion to suspend outside directors and a lawsuit to overturn the AGM resolutions—now appears to be escalating into a dispute over access to the company’s internal financial records.
DENTIUM announced on the 3rd that Align Partners Asset Management and one other party filed a motion for a “provisional injunction to inspect and copy accounting records” with the Suwon District Court on the 1st. The case number is 2026KaHab10487.
The petitioners requested permission to inspect and copy the accounting books and related documents at DENTIUM’s headquarters during business hours for 30 days—excluding Saturdays and public holidays—starting three business days after the date of service of the official copy of the ruling. The scope of the request included files stored on electronic storage devices, external servers, and the cloud, and they also requested permission to take photographs and make copies using removable storage media. The request also stipulated that the applicant be permitted to be accompanied by attorneys, certified public accountants, or other authorized professionals during the inspection and copying process.
The petitioners also sought a penalty payment of 5 million won per day of non-compliance until the obligation is fulfilled, in the event that DENTIUM fails to comply. They further demanded that DENTIUM bear the litigation costs. DENTIUM issued a brief statement saying, “We plan to respond in accordance with legal procedures.”
Previously, after losing by a narrow margin in a vote to appoint an outside director who would also serve as an audit committee member at the regular shareholders’ meeting on March 31, Align filed a lawsuit on May 22 seeking to annul the shareholders’ meeting resolution, followed by a petition on June 1 for a preliminary injunction to suspend the duties of the outside director in question. However, the Suwon District Court dismissed all applications for a preliminary injunction to suspend duties on the 12th of last month. This latest application for a preliminary injunction to inspect and copy accounting records marks the third legal action filed by Align since then.
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