USITC Opens Section 337 Investigation Into Subsidiary FII and Its Affiliates
Original: 代重要子公司富士康工業互聯網股份有限公司公告關於 美國國際貿易委員會對公司及控股子公司開展337調查
Summary
Hon Hai is disclosing, on behalf of its key listed subsidiary Foxconn Industrial Internet Co., Ltd. (FII), that the U.S. International Trade Commission (USITC) has initiated a Section 337 investigation targeting FII and its controlled subsidiaries. Section 337 proceedings — most often triggered by patent-infringement allegations — can culminate in exclusion orders that bar a respondent's products from entering the United States, representing a material legal and commercial risk. Full body available on MOPS.
Full Translation
Hon Hai Precision Industry Co., Ltd. issues this announcement on behalf of its major subsidiary Foxconn Industrial Internet Co., Ltd. (富士康工業互聯網股份有限公司; FII), disclosing that the United States International Trade Commission (USITC) has commenced a Section 337 investigation directed at FII and its controlled subsidiaries. Section 337 of the Tariff Act of 1930 empowers the USITC to investigate unfair methods of competition and unfair acts in the importation of goods into the United States — most commonly allegations of patent, trademark, or trade-secret infringement — and the Commission may issue exclusion orders (general or limited) and/or cease-and-desist orders if a violation is found. Such remedies could prohibit the importation of affected products into the U.S. market and would constitute a significant business impact for FII and its subsidiaries. [Body not available — subject line only. See MOPS for full announcement.]