Glancy Prongay & Murray LLP Announces Investigation on Behalf of United Microelectronics Corporation Investors (UMC)
Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of United Microelectronics Corporation (“UMC” or the “Company”) (NYSE: UMC) investors concerning the Company and its officers’ possible violations of federal securities laws.
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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.
If you purchased UMC securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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