NEW YORK, March 26, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of United Microelectronics Corp. (NYSE: UMC) from October 28, 2015 through November 1, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for United Microelectronics investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than May 13, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation http://zhanginvestorlaw.com/join-action-form/?slug=united-microelectronics-corp&id=1798 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email info@zhanginvestorlaw.com, slee@zhanginvestorlaw.com for information on the class action.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) United Microelectronics conspired with Fujian to steal trade secrets from Micron relating to its research and development of Dynamic Random-Access Memory (“DRAM”); (2) United Microelectronics hired former Micron employees for the purpose of stealing such information from Micron; (3) the foregoing conduct placed United Microelectronics and certain of its employees at an increased risk of criminal and regulatory investigation by the U.S. government; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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