What happened Shares of United Microelectronics (NYSE: UMC) were up by 10% as of 3 p.m. EDT today, after the company said it expects to settle a criminal lawsuit soon. The U.S. Department of Justice (DOJ) had filed the lawsuit in 2018 alleging that the company was part of a conspiracy to steal trade secrets from Micron Technology (NASDAQ: MU). So what In a regulatory filing, United Microelectronics said that it has been negotiating a settlement with the DOJ and "anticipates reaching a resolution with DOJ in the foreseeable future." The tech company has proposed a deal in which it would plead guilty to a lesser charge and pay a $60 million fine. Image source: Getty images. The DOJ's initial complaint had alleged that the company engaged in economic espionage with a company owned by the Chinese government, Fujian Jinhua Integrated Circuit, to secure Micron's intellectual property related to the development and manufacturing of DRAM memory. Micron is the only U.S.-based manufacturer of DRAM memory. Now what United Microelectronics notes that the discussions are ongoing and that the proposed settlement still needs to be approved by the court. The company added that it has recorded a $60 million accrual associated with the monetary penalty. 10 stocks we like better than United MicroelectronicsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and United Microelectronics wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of October 20, 2020 Evan Niu, CFA has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source