Investors Ink $3M Deal In Taiwanese Co. Trade Secrets Suit

Law360 (July 9, 2020, 3:48 PM EDT) -- Counsel for investors of United Microelectronics Corp. informed a New York federal judge Wednesday that they inked a $3 million deal in a stock-drop suit against the Taiwanese semiconductor manufacturer, in which they alleged the company lied about stealing trade secrets from an American competitor.

In the memo to district Judge Victor Marrero, investors' lawyer Gregory Nespole of Levi & Korsinsky LLP, asked to stay proceedings of the proposed securities class action as he prepares to file a motion for preliminary approval by July 30. He said the $3 million cash settlement came on June 30 following mediation between shareholders and...

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