BenQ Executives Cleared Of Insider Trading

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Senior BenQ executives have been cleared of insider trading. The drama unfolded after Police raided the companies offices in 2007.

BenQ chairman KY Lee and other incumbent and former executives were cleared by the district Court inTaiwan of insider trading charges, which arose from the handling of stock options for overseas employees in 2006.

The other defendants acquitted by the Taoyuan District Court are Sheaffer Lee, former BenQ president, and Eric Yu, ex-CFO.

Prosecutors claimed that a number of top executives had illegally sold the stock options in the three months prior to the company’s announcement on March 14, 2006 of huge losses from its acquisition of the money-losing mobile phone unit of Germany-based Siemens.

BenQ has since then changed its name to Qisda, spinning off BenQ as a brand-name vendor.

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