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  • Ex-Samsung Manager Admits Leaking Sensitive iPad Information to Hedge Fund


    A former Samsung Electronics manager has testified in the insider-trading trial of Primary Global Research LLC executive James Fleishman. On Wednesday, Suk-Joo Hwang, a 14-year employee of Samsung, admitted to disclosing to a hedge fund confidential shipping data for Apple iPad components.

    The revelation of this highly sensitive and confidential information came in late 2009, just one month before Apple publicly unveiled its first generation iPad - a product that played no small role in driving the price of Apple stock above $400 per share. Hwang only admitted to his involvement after being granted immunity from prosecution.

    Hwang said that during lunch at a restaurant in Mountain View, California, with Fleishman and a hedge fund manager he identified as “Greg,” he gave them confidential information about Samsung’s shipment of liquid crystal display screens it was supplying to Apple. The iPad made its U.S. debut in April 2010, four months after the lunch.
    “One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” Hwang revealed to jurors. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.”

    According to Bloomberg, Fleishman is charged with "two counts of conspiracy" for facilitating a scheme in which "employees at public companies passed confidential information" to fund manager clients of Primary Global.

    Although he pleaded not guilty, if convicted Fleishman could get upwards of 25 years in prison.

    Source: Bloomberg
    This article was originally published in forum thread: Ex-Samsung Manager Admits Leaking Sensitive iPad Information to Hedge Fund started by Michael Essany View original post
    Comments 11 Comments
    1. EMTZ13's Avatar
      EMTZ13 -
      I knew trusting Samsung would end like this lol
    1. Kinkme93's Avatar
      Kinkme93 -
      Good. That's what apple gets
    1. kuhndsn's Avatar
      kuhndsn -
      Quote Originally Posted by Kinkme93 View Post
      Good. That's what apple gets
      It always amazes me to see people hating success. First Microsoft now it's Apple.
    1. dekon's Avatar
      dekon -
      Quote Originally Posted by Kinkme93 View Post
      Good. That's what apple gets
      ************
    1. Kinkme93's Avatar
      Kinkme93 -
      Quote Originally Posted by kuhndsn View Post
      It always amazes me to see people hating success. First Microsoft now it's Apple.
      I don't hate there success I hate fanboys like you.
      You ********** will love my comment if I have an apple logo on it 
    1. mmaboi21's Avatar
      mmaboi21 -
      Quote Originally Posted by Kinkme93 View Post
      I don't hate there success I hate fanboys like you.
      You ******** will love my comment if I have an apple logo on it 
      I'm a fanboy and your also on a website that consist of apple products and news. You should also stop insulting*whisper* (it doesn't help)
    1. raduga's Avatar
      raduga -
      It doesn't amaze me to see people hating, but it saddens me.

      Hate isn't a product of success- but rather from jealousy. It isn't about the other guy rising to glory so much as its about yourself being stuck in the inglorious wallow that we're all pretty darned well accustomed to. And its the fear that someone stuck even farther down in the mud will grab your ankle and pull you under.

      When we express glee at another's misfortune, it's a sad reflection on our own degraded compassion and humanity; with the exception of those who attack non-human entities (like Apple, Microsoft, etc.) Corporations don't deserve empathy or pity. Or admiration or praise... or even hate.

      Support them if they further your interests, oppose them if they suppress; but applying your human emotions and sentiments to them is wasted breath unless you can connect with a human inside.

      It doesn't amaze me to see people hating, but it saddens me.

      Hate isn't a product of success- but rather from jealousy. It isn't about the other guy rising to glory so much as its about yourself being stuck in the inglorious wallow that we're all pretty darned well accustomed to. And its the fear that someone stuck even farther down in the mud will grab your ankle and pull you under.

      When we express glee at another's misfortune, it's a sad reflection on our own degraded compassion and humanity; with the exception of those who attack non-human entities (like Apple, Microsoft, etc.) Corporations don't deserve empathy or pity. Or admiration or praise... or even hate.

      Support them if they further your interests, oppose them if they suppress; but applying your human emotions and sentiments to them is wasted breath unless you can connect with a human inside.
    1. Mes's Avatar
      Mes -
      MMi Forum Rules do not permit insults to other members.

      Please re-read the Forum Rules !!

      Thank you.
    1. raduga's Avatar
      raduga -
      Quote Originally Posted by Mes View Post
      MMi Forum Rules do not permit insults to other members.

      Please re-read the Forum Rules !!

      Thank you.
      Even worse.
      I didn't just break forum rules, I was wrong. (u+E34F isn't an Appleism)
    1. dz302's Avatar
      dz302 -
      Quote Originally Posted by Kinkme93 View Post
      Good. That's what apple gets
      And there you have it. This should clear up any questions and or comments any of you might have
      on the matter.

      dz
    1. zplit's Avatar
      zplit -
      Quote Originally Posted by Kinkme93 View Post
      Good. That's what apple gets
      Hater for real this kind of ppl have nothing to do but hat3.