Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2007
Shareholder fiduciary-duty litigation
Two U.S. hedge funds alleged that Gravity’s majority shareholders and officers had violated fiduciary obligations. Gravity agreed to a $10 million settlement while continuing to deny wrongdoing.
2005
Alleged diversion of company funds
Jung Ryool Kim was accused of diverting approximately $6 million in Gravity funds to himself during 2002–2004. The matter prompted an investigation, a settlement, and corrections to the company’s financial statements.