Arm China investor sues company, escalating CEO spat amid sale

The Chinese division of UK-based chip designer Arm Ltd has been sued by an investor over its board's attempt to oust the unit's chief executive, escalating an internal dispute at a time when the tech group is on the verge of being taken over in a US$40 billion deal.

Wu has not commented publicly on the allegations. He did not respond to questions sent to his LinkedIn account. An Arm China spokesman confirmed the Ningbo Meishan lawsuit but did not comment on its status after the pre-hearing. In June, Arm and Hopu tried to remove Wu as Arm China's chief executive after finding what they said were serious irregularities in his conduct. They said they included failing to disclose conflicts of interest and violations of the employee handbook.

Arm said in a statement in July that was in defiance of the board's"legally valid" decision to remove him.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nvidia acquisition of Arm throws company into tech spat between US and ChinaSHANGHAI: Nvidia Corp's US$40 billion acquisition of chip designer Arm is set to catapult it into the fray of geopolitical tensions between ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Asia stocks head higher on China data, markets eye Fed meetingSINGAPORE (REUTERS) - Asian equities extended gains on Tuesday (Sept 15) and the US dollar slipped, with investor sentiment supported by Chinese data and optimism about Covid-19 vaccines.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »