JLJ executive chairman resigns amidst Apple suit
Company requested trading suspension on Thursday as shares fell 18 percent since news of the suit.
Singapore's JLJ Holdings, a firm named in a lawsuit involving Apple 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.
The company had said earlier that Ang had left JLJ in 2009.
JLJ did not name its executive chairman in its statement, but its website named Chua Kim Guan as holding that office.
View the full story in Reuters.
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