A former Samsung manager has admitted in court that he leaked information about Apple’s iPad tablet to members of an expert network and a hedge fund before the device was launched. While testifying at the insider trading trial of Primary Global Research LLC executive James Fleishman, ex-Samsung manager Suk-Joo Hwang told jurors that he had been paid $38,000 to share information about Apple’s iPad before the device was announced in 2010. “One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” Hwang testified. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.” PGR’s Fleishman allegedly took the information he was given about Apple’s upcoming device and fed it to the firm’s hedge fund clients, a practice that the U.S. Securities and Exchange Commission has taken a particular interest in of late. Hwang was granted immunity in exchange for his testimony.
Former Samsung manager admits to leaking iPad trade secrets
Updated Dec 19th, 2018 7:29PM EST
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Zach Epstein has been the Executive Editor at BGR for more than 15 years. He manages BGR’s editorial team and ensures that best practices are adhered to. He also oversees the Ecommerce team and directs the daily flow of all content. Zach first joined BGR in 2007 as a Staff Writer covering business, technology, and entertainment.
His work has been quoted by countless top news organizations, and he was recently named one of the world's top 10 “power mobile influencers” by Forbes. Prior to BGR, Zach worked as an executive in marketing and business development with two private telcos.
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