Recent Securities Litigations
United Microelectronics Corporation (NEW) Common Stock (NYSE: UMC)
According to the Complaint, United Microelectronics Corporation ("UMC" or the "Company") provides semiconductor wafer foundry solutions.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding UMC's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) UMC conspired with Fujian to steal trade secrets from Micron relating to its research and development of DRAM; (ii) UMC hired former Micron employees for the purpose of stealing such information from Micron; (iii) the foregoing conduct placed UMC and certain of its employees at an increased risk of criminal and regulatory investigation by the U.S. government; and (iv) as a result, UMC's public statements were materially false and misleading at all relevant times.