NEW YORK, March 18, 2019 /PRNewswire/ -- Faruqi & Faruqi,
LLP, a leading national securities law firm, reminds investors in United Microelectronics Corporation ("UMC" or the
"Company")(NYSE:UMC) of the May 13, 2019 deadline to seek the role of lead plaintiff in a federal
securities class action that has been filed against the Company.
If you invested in UMC stock or options between October 28, 2015 and November 1, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/UMC. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or
at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.
CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
The lawsuit has been filed in the U.S. District Court for the Southern District of New York
on behalf of all those who purchased UMC securities between October 28, 2015 and November 1, 2018 (the "Class Period"). The case, Meyer v. United Microelectronics Corporation et al.,
No. 19-cv-02304 was filed on March 14, 2019, and has been assigned to Judge Victor Marrero.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or
misleading statements and/or failing to disclose that: (1) UMC conspired with Fujian to steal
trade secrets from Micron relating to its research and development of 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.
On November 1, 2018, the U.S. Department of Justice ("DOJ") indicted UMC, Fujian, and Chen Zhengkun a.k.a. Stephen Chen ("Chen"), a former Micron
employee hired by UMC, for conspiracy to commit economic espionage, conspiracy to commit theft of trade secrets, and economic
espionage (receiving and possessing stolen trade secrets).
On this news, United Microelectronics's share price fell, over two trading sessions, from $1.90
per share on November 1, 2018 to a closing price of $1.71 on
November 5, 2018: a $0.19 or a 10.0% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who
is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of
the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding United Microelectronics's conduct to contact the
firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome
with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated
in a confidential manner.
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