Investigations are being carried out against Taiwanese PC manufacturer, Acer, following allegations of insider trading, various sources revealed on Tuesday.
The incident is said to involve a number of Acer’s upper level fund managers and sales representatives, some of whom were told of the company’s 3Q13 losses beforehand and had been asked to sell the their shares before J.T. Wang, Acer’s then-CEO, decided to step down.The move is perceived to be largely detrimental not only to Acer’s credibility, but also to its future market development and financial prospects.
“The insider trading probe dealt another blow to Acer shares, which had been hit hard already by concerns over a falling share of the global PC market and its weak profitability,” MasterLink Securities analyst, Tom Tang, told Focus Taiwan recently.
“The insider trading probe could not have come at a worse time for Acer as it struggles to regain footing in the global PC market,” Tang added.