“An ex-Samsung Electronics Co. manager, testifying at the insider-trader trial of Primary Global Research LLC executive James Fleishman, told jurors he disclosed confidential shipping data for Apple Inc. iPad components,” Patricia Hurtado reports for Bloomberg.
“Suk-Joo Hwang, who worked for 14 years at the U.S. division of Suwon, South Korea-based Samsung, told jurors yesterday in federal court in New York after he was granted immunity from prosecution by U.S. District Judge Jed Rakoff, who’s presiding over the case,” Hurtado reports. “Hwang said that during lunch at a restaurant in Mountain View, California, with Fleishman and a hedge fund manager he identified as “Greg,” he gave them confidential information about Samsung’s shipment of liquid crystal display screens it was supplying to Apple.”
Hurtado reports, “The iPad made its U.S. debut in April 2010, four months after the lunch… Fleishman, of Santa Clara, California, is charged with two counts of conspiracy for facilitating a scheme in which employees at public companies passed confidential information to fund manager clients of Primary Global, also known as PGR, a Mountain View-based expert-networking firm. He has pleaded not guilty to the charges and faces as long as 25 years in prison if convicted.”
Much more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]