Taiwan's UMC hopes to conclude US trade-secret lawsuit soon with US$60 million settlement
- UMC says it has submitted a proposal for a business espionage lawsuit against it to be resolved, involving a settlement of US$60 million
- The Taiwanese contract chip maker’s shares closed up 5.3 per cent on Thursday, spurred by news the lawsuit might be settled soon
Taiwanese contract chip maker United Microelectronics Corp (UMC) said on Thursday it hoped a business espionage lawsuit brought by the US Department of Justice (DOJ) against the company could be settled soon.
UMC has been in talks with the DOJ and has submitted a proposal for the matter to be resolved, involving a settlement of US$60 million, it said in a filing to Taiwan’s stock exchange.
“UMC continues to discuss this case with the US Department of Justice hoping to reach a conclusion as soon as possible,” the chip maker said in the filing.
The DOJ prosecuted an intellectual property theft case against UMC and Chinese memory manufacturer Fujian Jinhua Integrated Circuit Co Ltd (JHICC) in 2018, charging UMC with helping JHICC in an attempt to illegally acquire DRAM manufacturing technology from US chip maker Micron Technology.
UMC shares closed up 5.3 per cent at NT$33 (US$1.15), spurred by news the lawsuit might be settled soon. Taiwan’s stock market ended up 0.3 per cent.