Business & Investment

Smartphone maker Xiaomi has filed a legal complaint against the United States to protect Reuters’ interests in the United States

© Reuters.File Photo: People wearing protective face masks visit Xiaomi brand stores in Kiev

Hong Kong (Reuters)-Chinese smartphone maker Xiaomi (OTC :) Corp said in a notice on the Hong Kong Stock Exchange on Sunday that a legal complaint against the Pentagon and the Treasury is to protect the company’s interests. ..

The company filed a complaint with the US Department of Defense in the Washington District Court on Friday in an attempt to remove Chinese smartphone makers from the official list of companies associated with the Chinese military.

Xiaomi said the US decision to include the company as a “communist Chinese military company” was “virtually incorrect” and called on the court to declare the decision illegal.

The Pentagon, which was under Trump’s administration in mid-January, added Xiaomi and eight other companies to the list. This requires US investors to sell their holdings in the company by a set deadline.

Under a weighted structure, Xiaomi states that 75% of the company’s voting rights are owned by co-founders Lin Bin and Lei Jun, with no ownership or control from any military-related individual or group. I will.

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Smartphone maker Xiaomi has filed a legal complaint against the United States to protect Reuters’ interests in the United States

https://www.investing.com/news/stock-market-news/smartphone-maker-xiaomi-says-legal-complaint-against-us-to-protect-its-interests-2404392 Smartphone maker Xiaomi has filed a legal complaint against the United States to protect Reuters’ interests in the United States

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