1. All plaintiffs' lawsuits are dismissed.

2. The costs of lawsuit are assessed against the plaintiffs.

1. On November 6, 2015, L entered into a contract for acquisition of shares (hereinafter “instant contract”) with the Defendant Company’s shares (hereinafter “instant shares”) owned by it and the Defendant Company’s management right (hereinafter “instant shares”).

L on November 9, 2015, the defendant company ordered M to take office as the representative director of the defendant company, N, F as the in-house director, andO as the auditor.

Since L transferred all the shares of this case to M.

L expressed his/her intent to cancel the instant contract on May 18, 2017 and June 5, 2017 on the ground that M does not pay any balance of the instant contract.

L around August 14, 2017, upon cancelling the instant contract, transferred to Plaintiff B the entire status of the instant contract, including the right to claim the return of the instant shares held by L to M upon the rescission of the instant contract.

Plaintiff

B asserted that the instant contract between L and M was rescinded on September 6, 2017, and the Suwon District Court 2017Kadan203384 issued a provisional injunction against disposal of the instant shares with respect to the instant shares, and subsequently filed a lawsuit claiming the return of shares in Chuncheon District Court 2017Kahap10598.

On June 21, 2018, the above court affirmed that the instant contract was rescinded, and sentenced that M would return the price that was partially paid from L to M in accordance with the instant contract to its original state, and simultaneously transfer the instant shares to Plaintiff B.

Accordingly, M appealed as Seoul High Court (Chuncheon) 2018Na959, and the above court rendered on May 22, 2019, the judgment of the court of first instance that changed the above judgment and dismissed all Plaintiff B’s claims on the grounds that the instant contract was not rescinded.

Plaintiff

B The Supreme Court Decision 2019Da243383 Decided October 18, 2019, which was the final appeal court, became final and conclusive on October 18, 2019.

L, after the judgment of the above appellate court, declared on June 28, 2019 that the contract of this case was concluded to M by fraud, is revoked.