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|18th December 2013, 09:27||#1|
Join Date: May 2010
VIA Sues ASUS Group Companies and Executives for Damages
Following the decision by the Taiwan Prosecutor to pursue criminal proceedings against a subsidiary of Asustek Computer, Inc. (TSE: 2357) and four of that subsidiary's employees for the alleged misappropriation of trade secrets from VIA Technologies, Inc. (TSE: 2388), VIA today announced that it has filed a civil suit in the Taipei District Court seeking damages of at least NT$4.137 billion (US$138 million) from Asustek Computer, Inc and its subsidiary Asmedia Technology.
The lawsuit is being filed to recover the losses incurred as a result of the alleged misappropriation of VIA intellectual property related to USB technology. Also named in the suit are Asmedia Chairman Jerry Shen, Asmedia President Lin Chewei, and other Asmedia employees involved in the case.
"As a long-time leader in IC design and technology innovation, VIA strongly believes in the importance of protecting intellectual property rights," commented Wenchi Chen, CEO of VIA Technologies, Inc. "In addition to protecting interests of VIA and our shareholders, the aim of this suit is to ensure our industry operates in a healthy market environment that fosters innovation and promotes fair competition."
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