News Archive for 07/08/16

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Execs indicted over iPod

08/16, 11:10am

Executives indicted over iPod orders

Nine executives from the Taiwanese company Inventec Appliances have been indicted over insider stock trading relating to iPod orders, according to reports. The Banciao District Prosecutors Office has accused the executives, along with a lower-level worker, of deliberately withholding information on Apple's decision to reduce orders to Inventec, giving them time to sell $740 million NT of stock, equivalent to $22.4 million US. The prosecutors say that as early as January 19th of last year, executives knew iPod output would have to be cut by 49 percent as Apple directed orders to China.