South Korean prosecutors continue reviewing the police referral of Bang Si-hyuk and associates on Capital Markets Act allegations tied to HYBE's 2020 IPO, after rejecting two arrest warrant requests in April 2026 for insufficient evidence and ordering further probes. The case, referred without detention in early September following a 20-month investigation into claims of misleading shareholders for alleged illicit gains of 263.1 billion won, remains in the pre-indictment stage with no formal charges announced. Bang has denied wrongdoing, cooperated under a travel ban imposed in 2025, and the procedural disagreements between police and prosecutors have slowed momentum. With limited time remaining before the December 31, 2026 resolution deadline, these factors underpin trader consensus favoring no charges this year.