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Electronics Production | December 17, 2010

Flextronics, AMD, Dell - all implicated in insider trading probe

Executives and sales staff were arrested and charged yesterday (December 16, 2010) with leaking confidential information about companies.
Companies that are involved and implicated in the insider trading probe are:

- EMS-provider Flextronics

The company's senior director of business development, Walter Shimoon has allegedly discussed plans for Apple's iPad with a hedge fund. Calls, that were monitored, show that Mr Shimoon talked about sales figures for the iPod and iPhones. (Flextronics apparently supplied camera and charger components to Apple for its iPhone and iPod). Flextronics is said to have terminated his contract.

- Dell

Daniel DeVore, former global supply manager at Dell, pleaded guilty to wire fraud and conspiracy charges on December 10. He is said to have passed on financial figures. He no longer works for Dell.

- Advanced Micro Devices (AMD)

Anthony Longoria, supply chain manager at AMD, passed on financial figures to a hedge fund.

- Taiwan Semiconductor Manufacturing

Manosha Karunatilaka, manager at Taiwan Semiconductor Manufacturing, provided product sales and shipping information to hedge funds and financial analysts.

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