Taiwan-based, Digitimes has reported that many of the top level executives in ASUStek and ASMedia have been suspected of insider trading. The news came in yesterday at late hours.Rising price of ASMedia’s stock price and a whopping 400% surge in the stock price in just 3 months, are supposedly the factors which brought the company executives under scanner.
Earlier in June, similar rumours had circulated in IT industry regarding a suspected involvment of top level executives from ASUStek in insider trading.
Acting on the news, the Taiwan Stock Exchange has issued an immediate investigation of the issue.
Also, due to the news, ASMedia’s stock prices dropped a maximum of 7% on July 16 trading. This is the biggest drop yet achieved by ASMedia.
Also, according to the report, several top level executives from ASMedia are set to resign in near future.