Blacklisted Chinese firms eye lawsuits after Xiaomi win against Trump ban
(Reuters) - Chinese companies targeted by a sweeping investment ban imposed by former President Donald Trump are considering suing the U.S. government after a federal judge on Friday suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
(Reuters) - Chinese companies targeted by a sweeping investment ban imposed by former President Donald Trump are considering suing the U.S. government after a federal judge on Friday suspended a similar blacklisting for Beijing-based smartphone maker Xiaomi.
Lawyers familiar with the matter said some of the banned Chinese companies are in talks with law firms including Steptoe & Johnson and Hogan Lovells, emboldened by U.S. District Judge Rudolph Contreras` preliminary order halting Xiaomi`s inclusion on a U.S. list of alleged Communist Chinese military companies that are subject to an investment ban.
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The Trump administration`s move to blacklist Xiaomi Corp, which knocked $10 billion off its market share and sent its shares down 9.5 percent in January, would have forced investors to completely divest their stakes in the company.
The story has been taken from a news agency
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