News Summary

Taiwan Semiconductor Manufacturing Company (TSMC) has filed a lawsuit against its former Senior Vice President, Wei-Jen Lo, in the Intellectual Property and Commercial Court. The legal action follows Lo’s recent move to US-based Intel, raising concerns that he might have leaked trade secrets to his new employer. TSMC claims a ‘high probability’ that Lo disclosed sensitive information, which has led to a 4.66% drop in TSMC’s stock value. Before joining TSMC in 2004, Lo had an 18-year tenure at Intel. The lawsuit underscores the intense competition and security concerns prevalent in the semiconductor industry.