NEW YORK, March 18, 2019 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of United Microelectronics Corporation ("UMC" or the "Company") (UMC). Investors who purchased or otherwise acquired UMC's American Depositary Shares (ADSs) or other UMC securities between October 28, 2015 and November 1, 2018, inclusive (the "Class Period"), may be affected. A complaint has been filed in the United States District Court for the Southern District of New York against the Company and certain executives.
On November 1, 2018, the U.S. Department of Justice indicted UMC for conspiracy to commit electronic espionage, conspiracy to commit theft of trade secrets, and economic espionage (receiving and possessing stolen trade secrets). The indictment stated that UMC and another company, Fujian Jianhua Integrated Circuit Co. Ltd. ("Fujian"), conspired to steal trade secrets from U.S. semiconductor company Micron Technology, Inc. relating to its research and development of memory storage devices
Following the news of UMC's indictment, UMC's shares fell by $0.19 per share, or 10%, over the next two trading days to close at $1.71 per share on November 5, 2018.
The Action alleges that throughout the Class Period, defendants made materially 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 Dynamic Random-Access Memory ("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. governments, and (iv) as a result, UMC's public statements were materially false and misleading at all relevant times.
If you are a member of the proposed Class, you may move the court no later than May 13, 2019 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing firstname.lastname@example.org or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707