The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of United Microelectronics Corporation (NYSE: UMC) who purchased shares between October 28, 2015 and November 1, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the UMC lawsuit alleges 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. government; and (iv) as a result, UMC’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 13, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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