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Electronics Production | December 21, 2010

Walter Shimoon wins bail in insider-trading case

Walter Shimoon, former manager at EMS-provider Flextronics has won USD 150'000 bail in the insider-trading case. He and 3 others were arrested last week accused of leaking iPad and iPhone4 information.
The Flextronics manager agreed to appear Jan. 4, 2011 in federal court in New York. He has not entered a plea to the charges. All defendants face up to 20 years in prison if convicted.

The relationship between Flextronics and Apple has been jeopardised, Flextronics officials were cited in a Bloomberg article in saying. The EMS-provider supplies cameras and battery chargers for Apple’s iPhone and iPod. Flextronics said it fired Mr Shimoon.

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