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© micron Business | November 26, 2021

Micron and UMC reaches a global settlement

According to the global settlement agreement, both companies will globally withdraw their complaints against the other party, and UMC will make a one-time payment of an undisclosed amount to Micron.

The companies have settled a longtime battle between the companies where the US chipmaker accused the Taiwanese company of stealing and leaking its IP to state-owned Fujian Jinhua. In late October last year, UMC pleaded guilty to criminal trade secret theft and was sentenced to pay a USD 60 million fine, in exchange for its agreement to cooperate with the government in the investigation and prosecution of its co-defendant, a Chinese state-owned-enterprise, namely Fujian Jinhua. However Micron said it would continue to seek “full restitution” from the company in a separate civil lawsuit. Which is the lawsuit that has now been settled.
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November 29 2021 10:48 pm V19.2.0-2