Friday, December 17, 2010

Apple and AMD secrets leaked by inside traders

Four U.S. men have been arrested in connection with corporate corruption and insider trading. Walter Shimoon (Flextronics), Mark Longoria (supply chain manager at AMD), Manosha Karunatilaka (Taiwan Semiconductor) and James Fleishman, have all been arrested on suspicion of leaking non-public corporate secrets to two unnamed hedge-funds in advance of their actual release date.

Of note, in a tapped phone call, Walter Shimoon was recorded speaking of "K48" to an unknown associate. This "K48" is the project that developed into the iPad.

"At Apple you can get fired for saying K48 ... outside of a, you know, outside of a meeting that doesn't have K48 people in it. That's how crazy they are about it," - Shimoon to associate.

Read the rest of the article here.

via Neowin
source Reuters

No comments:

Post a Comment