Orbotech denies allegations in Korea, “will impact sales”

Orbotech has responded to allegations that six employees have leaked sensitive information from LG and Samsung. Seoul Central District Prosecutors’ Office arrested and indicted three Korean workers at the Korean branch of Orbotech on Wednesday. “The Company’s Korean subsidiary continues to co-operate with the Korean authorities in this matter. The Company is disappointed by the groundless allegations made by the prosecutor and intends to defend itself and its employees vigorously. Orbotech denies any criminal intent and it has confidence in the Korean judicial system and that the applicable facts and defenses will be given full and fair consideration,” said a statement by Orbotech. “The Company believes that all of the customer information referred to in this matter was obtained and used solely for appropriate purposes, including providing requested support to the customers and was not distributed outside the Company. In addition, all technological information at issue was already in Orbotech’s possession or was readily available from other materials already in Orbotech’s possession”. The company said that the controversy may hurt sales in Korea and could delay or forgo business opportunities in the country.