Acer spokesman Henry Wang was detained by prosecutors Wednesday for alleged insider trading. Acer is the largest PC retailer in Taiwan and the fourth largest PC vendor in the world.
Prosecutors raided Acer's headquarters in Taipei and 13 other locations on Tuesday over allegations of insider trading. The New Taipei District Court approved prosecutors' request to detain Acer spokesman Henry Wang and a female securities dealer on Wednesday.
Wang and the others were accused of violating securities trading rules by cutting Acer holdings in November. The timing was ahead of the announcement of a record quarterly loss of more than NT$13 billion (about US$428 million) and the resignation of former chairman J.T. Wang and former president Jim Wong.
Acer said Tuesday it had provided relevant information to authorities in cooperation with the investigation process, but denied any allegations made against the company. The case is the latest in a string of insider-trading probes of Taiwanese technology firms.