US EditionIntel CEO Defends Hiring Former TSMC Exec: ‘He Continues to Have Our Full Support’
TSMC alleges Wei-Jen Lo breached contract and trade secrets laws after joining Intel, prompting government investigation into potential technology infringement and national security risks.
- On Nov. 25, Taiwan Semiconductor Manufacturing Co filed a lawsuit in Taiwan's Intellectual Property and Commercial Court against former Senior Vice President Wei-Jen Lo, alleging trade secret theft and contract breaches tied to leaks to Intel.
- Following Reuters and local reports, Taiwan's High Prosecutors Office opened a probe while Taiwan's economy ministry will assess possible infringement or National Security Act violations and monitor industry impact.
- During a 21-year TSMC career, Lo helped drive mass production of 5-nanometre, 3-nm and 2-nm chips and retired on July 27, this year, despite his corporate strategy role.
- TSMC's shares fell over 3% on the news, the U.S. firm's stock dropped 1.5%, prosecutors have yet to file criminal charges, and compensation is sought by TSMC.
- TSMC alleged `There is a high probability that Lo uses, leaks, discloses or transfers TSMC's trade secrets and confidential information to Intel, thus making legal actions necessary`, while Intel CEO Lip-Bu Tan said his `company respects intellectual property rights` and Intel and Lo did not immediately respond.
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Intel Stands By Hiring Former TSMC Executive Accused Of Leaking Trade Secrets - Apple (NASDAQ:AAPL), Intel (NASDAQ:INTC)
Intel Corp. (NASDAQ:INTC) on Thursday said it stands by its decision to hire a former senior Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM) executive, two days after the Taiwanese contract chipmaker filed a lawsuit alleging Wei-Jen Lo had leaked trade secrets. Intel did not immediately respond to Benzinga‘s request for a statement. However, the U.S. chipmaker told Reuters and Nikkei Asia in an emailed statement that it sees no basis f…
TSMC sues former VP for allegedly taking trade secrets to Intel
TSMC filed the lawsuit in the Intellectual Property and Commercial Court. According to a statement from the semiconductor giant, the filing is based on the terms of Lo's contract with the company, including the non-compete agreement he signed, and regulations such as the Trade Secrets Act.Read Entire Article
TSMC files lawsuit against former executive on security concerns
In an emailed statement to Reuters, TSMC said the lawsuit is based on the terms of the employment contract between TSMC and Lo, the non-compete agreement signed by Lo, and regulations such as the Trade Secrets Act.
TSMC stake slumps 4.66% on lawsuit against former executive Lo Wei Jen for leaking trade secrets to Intel — All we know
Shares of Taiwan-based chipmaker TSMC fell 4.66% on reports that the company is suing a former executive Lo Wei Jen for allegedly leaking trade secrets to US rival and current employer Intel. Here's the latest developments.
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