After Lizzy left After School and Pledis Entertainment at the start of May, the company insisted that Orange Caramel could still be a thing and didn’t even mention the possibility of After School being done.
A source from the agency explained, “The members are currently pursuing different fields in accordance with their wishes, but Orange Caramel has not been officially disbanded. If a good opportunity presents itself later on and they were to release an album, we will not hold back from actively giving our support.”
Well now, if a fan account from a recent Missha fansign with Nana is to be believed, then both After School and Orange Caramel are done.
So… found a fan acct from Nana's recent fansign (missha) and a fan asked her about if oc/AS is going to come back & she said the members are going their different ways(paths) so there won't be a come back from both perspective groups
— nana eng translation (@nanaengtrans) June 7, 2018
Take this account of a conversation how you want, but Korean fans seem to believe it’s legit at least. More importantly, it’s quite frankly the only thing that makes logical sense anyway.
Oh well, at least Nana is killing it in acting and modelling.