LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24UMC&src=ctag” target=”_blank”gt;$UMClt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the upcoming May
13, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of United Microelectronics Corporation (“UMC” or
the “Company”) (NYSE: UMC)
investors who purchased securities between October 28, 2015 and
November 1, 2018, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to
participate.
If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, at
310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
or visit our website at www.glancylaw.com.
On November 1, 2018, UMC was indicted by the U.S. Department of Justice
on charges of conspiracy to commit theft of trade secrets and economic
espionage. The charges issued were in relation to a conspiracy by UMC to
steal trade secrets from its competitor in the electronic industry
Micron Technology, Inc. by hiring former employees of Micron who then
provided the stolen trade secrets to UMC. The trade secrets were then
used in relation to a DRAM project UMC had entered with Fujian Jianhua
Integrated Circuit Co. Ltd. in May 2016, in which technology developed
by UMC would be owned jointly by both parties.
On this news, the Company’s share price fell $0.19 per share or over 10%
over two days of trading to close at $1.71 on November 5, 2018, thereby
injuring investors.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and misleading statements
regarding the Company’s business, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements and/or
failed to disclose that: (1) UMC conspired with Fujian to steal trade
secrets from Micron relating to its research and development of Dynamic
Random-Access Memory (“DRAM”); (2) UMC hired former Micron employees for
the purpose of stealing such information from Micron; (3) 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 (4) as
a result, UMC’s public statements were materially false and misleading
at all relevant times.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased or otherwise acquired UMC securities during the Class
Period you may move the Court no later than May 13, 2019 to
request appointment as lead plaintiff in this putative class action
lawsuit. To be a member of the class action you need not take any action
at this time; you may retain counsel of your choice or take no action
and remain an absent member of the class action. If you wish to learn
more about this class action, or if you have any questions concerning
this announcement or your rights or interests with respect to the
pending class action lawsuit, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
Contacts
Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy,
310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com
