SMICY FEB 8 DEADLINE ALERT: Pawar Law Group Announces a Securities Class Action Lawsuit Against Semiconductor Manufacturing International Corp.– SMICY
February 03, 2021 15:21 ET | Source: Pawar Law Group Pawar Law Group New York, New York, UNITED STATES
NEW YORK, Feb. 03, 2021 (GLOBE NEWSWIRE) Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Semiconductor Manufacturing International Corp. (OTC: SMICY) from April 23, 2020 through September 26, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Semiconductor Manufacturing International Corp. investors under the federal securities laws.
To join the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
Xiaomi requests to be removed from United States Communist Chinese military company list Watch Now
Xiaomi has filed a legal action against the US Defense and Treasury departments that seeks to remove itself from the country s official list of Communist Chinese military companies (CCMC).
The Department of Defense added Xiaomi onto the list in mid-January after it accused the company of appearing to be [a] civilian entity in order to procure advanced technologies in support of the modernisation goals of the Chinese military.
In the legal complaint [PDF], Xiaomi said it filed the lawsuit as the CCMC designation would cause immediate and irreparable harm to Xiaomi , including by cutting off Xiaomi s access to US capital markets.
High-tech veteran Guo Ming first noticed that change might be brewing in the highly cyclical sector for microchips in last year’s third quarter.. Read more at straitstimes.com.
Xiaomi is now suing the US government in hopes of reversing investment ban
The ongoing Xiaomi/US saga is quickly escalating. If you haven t been following it closely, basically one of the swan songs of Trump s government was to designate Xiaomi as a “Communist Chinese military company”. A title that would qualify it to fall under the administration s Executive Order from November that bars American securities and investment companies from putting capital in said companies.
What being on the list currently entails in more practical terms is that if the decision stands all American institutional investors in Xiaomi would be forced to withdraw holdings in the company by November. Some of the more notable US investors that would have to comply include Qualcomm Inc., BlackRock Inc., the Vanguard Group Inc. and State Street Corp.