Digitimes reports several Asustek Computer and ASMedia’s top executives under investigation by both companies for insider trading on ASMedia stock.
ASMedia’s stock price has been rising since the end of April and has grown 400% within the past three months. Rumor of insider trading activity have been circulating the IT market since early June and the Taiwan Stock Exchange had also started an investigation on the issue.
ASMedia’s stock price dropped to its maximum limit of 7% on July 16.
Several ASMedia executives reportedly will resign from their positions in the near future.