4 released on bail after questioning for insider trading

Taipei, April 26 (CNA) Four people have been released on bail by Taichung prosecutors for their alleged complicity in an insider trading case in 2021 that involved Largan Precision Co., one of the world's leading manufacturers of smartphone camera lenses.

The four include a Largan manager, surnamed Yao (姚); a staff member at Ability Opto-Electronics Technology Co., surnamed Yang (楊); and two others identified as Lu (盧) and Liao (廖), the Taichung District Prosecutors Office said in a statement on Saturday.

Ability Opto-Electronics specializes in the research, development, and manufacturing of optical lenses and related technical services.

Yao and Lu were each released on bail of NT$500,000 (US$15,361), while Yang and Liao were released on NT$150,000 bail, the office said.

The four were among 10 people questioned on Friday following raids conducted by Taichung prosecutors earlier that day. The other six were released after questioning.

According to the statement, they allegedly engaged in insider trading during a blackout period in 2021 after learning that the two companies had confirmed imminent business moves.

The case stems from the settlement of a nearly decade-long legal dispute over intellectual property infringement between the two companies, which concluded in 2021 when Largan acquired a 15.2 percent stake in Ability for NT$598 million.

Prosecutors said they were first notified of the case by the Investigation Bureau in September 2024 and subsequently launched an investigation, which they noted is still ongoing.

In separate statements issued Friday, the two companies said the investigation has not impacted their financial status and pledged to fully cooperate with the authorities.