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Chaintech directors and Colorful chairman accused for violating securities laws

    Taiwan-based motherboard/graphics card maker Chaintech Technology has commented on its board of directors, as well as chairman of its affiliate company Colorful, being charged for violating Taiwan's securities laws, saying that it has not yet received any official notice about the charges, but the issue will not affect the company's operations or finances.

In 2011, prior to Colorful's acquisition of Chaintech, Colorful's general manager and two other investors intentionally made transactions to keep Chaintech's stock price undervalued to reduce the amount they needed to pay for the acquisition, according to the accusations.