Four months in advance of the official presentation to the public, a former Samsung executive revealed confidential information concerning the iPad manager of a consulting and market analysis and a hedge fund manager is what emerges in the context of a process for insider trading pending before the District Court of the Southern District of New York to see defendants certain former managers of IT companies, a topic which we have already had occasion to speak in this news.
Joo-Suk Hwang, who has worked for 14 years at the famous Korean company after being fired last June, he testified at the trial after Judge Jed Rack off granted him immunity. Hwang said that during the month of December 2009 he attended a working lunch in Mountain View in the company of James Fleishman and a hedge fund manager named "Greg", during which he revealed to them some information about the volumes of deliveries the Samsung LCD for the Apple tablet. Recall that Samsung, along with Seiko Epson and LG has been a supplier of displays for the iPad.
"One thing that I remember very well was that I spoke of deliveries from Apple, and it was iPad. It 'took place in December 2009, before Apple debuted with the tablet, they did not know the name and I talked about the estimates of deliveries to the tablets. “Hwang continued: "They knew nothing, and Greg was very excited about it. I said to keep the information for them and remember what James said that after he nodded. Then I looked around and the first thing I thought was that he had spoken too loudly, and I'm scared. “The concerns are also heightened by Hwang when he learned that Samsung has just lost a supply contract with Apple.
James Fleishman, a former sales manager for the consulting firm Primary Global Research, risks 25 years in prison should he be found guilty of conspiracy charges hanging over his head. Fleishman was arrested last month of December during an investigation that has shed light on the existence of a network of contacts orchestrated specifically for the exchange of information between investors and employees of some companies.
Both Samsung and Apple have not released any comment on the statements of Hwang, who are another shove to the already deteriorated relations between Apple and the Korean giant.
Posted by: Wasim Javed
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