Former Samsung Manager Fesses Up to iPad Info Leak

Suk-Joo Hwang, a former manager for Samsung, testified in court that he leaked details about Apple’s as yet unreleased iPad to Primary Global Research executive James Fleishman. Mr. Hwang’s testimony came as part of Mr. Fleishman’s trial for insider trading, according to Businessweek.

Mr. Hwang said he provided confidential information to Mr. Fleishman about Apple’s display orders for the iPad during a lunch meeting in Mountain View, California.

Insider Trading bites Fleishman in the how-do-you-doHwang says PGR paid him for confidential iPad information

“One particular thing I remember vividly was that I talked about the shipment numbers of Apple, it was about iPad,” Mr. Hwang said. “This is in December 2009, before it came out with the tablet PC, they didn’t know the name then, so I talked to them about the tablet shipment estimates in that meeting.”

The Securities and Exchange Commission filed its case against Mr. Fleishman earlier this year for his involvement in gathering confidential information for hedge fund investments. Flextronics senior business director Walter Shimoon, AMD supply-chain manager Mark Anthony Longoria, former Dell global supply manager Daniel DeVore, and Bob Nguyen from Primary Global Research were also targeted in the SEC investigation.

Mr. Hwang added that he received US$38,000 from PGR between 2004 and 2010 for his insider information. FBI agents questioned him in October 2010 about his involvement with PGR, and in June 2011 he was fired from his job at Samsung.

The court isn’t charging Mr. Hwang for his involvement in exchange for his testimony.

Apple and Samsung have not commented on the testimony.