Taipei: The world’s No.4 smartphone maker HTC Corp, has filed a criminal complaint against Citigroup Inc in Taiwan, claiming that the bank published fake information that led to a fall in HTC’s share price, a Taiwan prosecutor said.
HTC, whose swift rise in the cut-throat handset industry had made it an investor beloved until early this year, has lost much of its luster in current weeks as its models resist competing with Apple Inc’s iPhone and Samsung Electronics Co Ltd’s Galaxy range.
Huang Mou-hsin, a deputy chief prosecutor at the Taipei District Prosecutors Office, said that “HTC submitted the case in August against a person at Citigroup Global Markets, and we are still investigating,” Huang refused to identify the person or give more details.
HTC’s director of public relations and corporate communications, Annie Lu refused to comment on the report. She also said that the company doesn’t comment on legal cases.
The largest seller of smartphones in the US, HTC climbed 2.3 percent to NT$424.50 as of 11:38 a.m. in Taipei trading. The shares have dropped 50 percent this year, compared with a 24 percent drop in the city’s benchmark Taiex index.