Rumors have been circulating among international fans that South Korean band EXO's Chinese member, Lu Han, has been absent from recent promotions, not because of health reasons, but it is suggested by a media outlet that he has filed a lawsuit against the company to nullify his contract.

Many sources are suggesting that Lu has filed a lawsuit to determine that the contract is invalid and is to be nullified, including Chinese media portal, Sina Weibo.

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Sina Weibo allegedly received exclusive info that Lu has filed a lawsuit today, October 10, at 9 AM, Korean Standard Time against SM Entertainment for the nullification of his contract.

According to sources, the 24-year old lead vocal for EXO-M, the Chinese sub-unit of EXO, filed a case against the talent outfit that is similar of nature to the case that Kris Wu has filed before leaving the group last May.

Furthermore, it is being speculated that Lu's case will be handled by the same law firm that handled Wu's lawsuit, also the same firm that battled out Super Junior's former member, Han Geng's case years back.

Rumors have also suggested that Lu has given the company a specific date to sort the matter out in order to avoid a lawsuit, but it seems that SM Entertainment has passed the date which resulted to the singer filing a lawsuit.

SM Entertainment has only responded to say that they will be looking into confirming the news.

On a side note, SM Entertainment had been suffering from a bad year with many of their talents either leaving or taking extended leaves.

Following the news that Wu left EXO earlier this year, SM Entertainment announced that f(x)'s Sulli will be taking a break from group activities. Furthermore, just earlier this month, Girls' Generation's Jessica was forced to leave the group.

As a result, the talent outfit is now suffering from sharp drops in stocks. According to sources, the SM Entertainment's stocks has dropped 3,100 KRW 15 minutes after news broke out that Lu Han is to leave EXO.

The company is said to be hovering at about 30% below their normal stocks rate.

TagsEXO, EXO-M, EXOLuHan, Lu Han, SM Entertainment