SINGAPORE, Aug 19 (Reuters) - Singapore’s JLJ Holdings (JLJH.SI), a firm named in a lawsuit involving Apple (AAPL.O) and a former employee, said on Thursday its executive chairman will voluntarily step down for the time being.
JLJ owns Jin Li Mould, an Apple supplier which allegedly received confidential information about the U.S. firm from ex-Apple employee Paul Devine. A former Jin Li executive named Andrew Ang was also named in the suit by Apple.
“Andrew Ang is the brother-in-law of the company’s executive chairman. In order to facilitate the impartial review of all activities relating to the Apple claim that may involve the Company and its subsidiaries, the company’s executive chairman has also voluntarily relinquished all executive duties,” the firm said in a statement.
JLJ did not name its executive chairman in its statement, but its website identified Chua Kim Guan as executive chairman.
Apple, the maker of iPhones and MacBook computers, has accused Devine of receiving bribes from six Asian suppliers in exchange for confidential information about the U.S. company’s product roadmap and sales forecast.
JLJ, whose shares have fallen 18 percent since news of the suit, requested a suspension in the trading of its shares earlier on Thursday. (Reporting by Kevin Lim; Editing by Lincoln Feast)