Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of United Microelectronics Corporation Investors

Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired United Microelectronics Corporation (“UMC” or the “Company”) (NYSE: UMC) securities between October 28, 2015 and November 1, 2018, inclusive (the “Class Period”). UMC investors have until May 13, 2019 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.

On November 1, 2018, UMC was indicted by the U.S. Department of Justice on charges of conspiracy to commit theft of trade secrets and economic espionage. The charges issued were in relation to a conspiracy by UMC to steal trade secrets from its competitor in the electronic industry Micron Technology, Inc. by hiring former employees of Micron who then provided the stolen trade secrets to UMC. The trade secrets were then used in relation to a DRAM project UMC had entered with Fujian Jianhua Integrated Circuit Co. Ltd. in May 2016, in which technology developed by UMC would be owned jointly by both parties.

On this news, the Company’s share price fell $0.19 per share or over 10% over two days of trading to close at $1.71 on November 5, 2018, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) UMC conspired with Fujian to steal trade secrets from Micron relating to its research and development of Dynamic Random-Access Memory ("DRAM"); (2) UMC hired former Micron employees for the purpose of stealing such information from Micron; (3) 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 (4) as a result, UMC’s public statements were materially false and misleading at all relevant times.

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If you purchased shares of UMC during the Class Period you may move the Court no later than May 13, 2019 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190418005683/en/

Glancy Prongay & Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]