LOS ANGELES, Feb. 15, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of United Microelectronics Corp. (“United Microelectronics” or “the Company”) (NYSE: UMC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. The Department of Justice announced on November 1, 2018, that United Microelectronics was indicted for economic espionage. The government alleges that the Company, along with co-conspirators, worked to steal the trade secrets of Micron Technology Inc., specifically its R&D on memory storage. Based on this news, shares of United Microelectronics fell sharply in the following trading sessions.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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