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Lite-On founder given bail in insider trading case; shares plunge 03/09/2021 12:17 PM Soong Kung-yuan / CNA photo March 9, 2021 Taipei, March 9 (CNA) Lite-On Technology Corp. founder Soong Kung-yuan (宋恭源) was released on NT$30 million (US$1.06 million) bail Tuesday after being questioned in an insider trading case, according to the Taipei District Prosecutors Office. Close friends of Soong with whom he shared insider information were also freed on bail after being questioned by prosecutors about the allegations. Among them, Soong s female friend surnamed Shan (單) was released on NT$30 million bail, Shan s sister was freed on NT$3.5 million bail, and another friend surnamed Yu (游) and his wife and son were each freed on NT$1 million bail each, prosecutors said. ....
Prosecutors question Lite-On founder on insider trading allegations 03/08/2021 09:10 PM Soong Kung-yuan (CNA file photo) Taipei, March 8 (CNA) Taipei prosecutors on Monday questioned Lite-On Technology Corp. founder Soong Kung-yuan (宋恭源) and seven other people as part of an insider trading investigation in connection to a merger deal Soong helped broker in 2019. Prosecutors with the Taipei District Prosecutors Office and investigators with the Ministry of Justice s Investigations Bureau also raided Soong s office at Lite-On Technology s Neihu headquarters and a dozen other locations, looking for evidence in the case. Prosecutors suspect that Soong joined with others in buying a large number of Lite-On Semiconductor Corp. (敦南科技, LSC) shares before it was publicly known that the company, a Lite-On Technology subsidiary that he chaired at the time, would be sold to U.S.-based Diodes Inc. ....