Washington Re-Escalates Probe Into Huawei IP Theft, Hiring Practices
Just when you thought it was safe to buy buy buy because of ‘odd’ headlines from both US and China about “talks,” The Wall Street Journal reports that, according to people familiar with the matter, U.S. prosecutors are looking into additional instances of alleged technology theft by Huawei.
The Journal reports that among the situations being examined are episodes in which Huawei was accused of stealing intellectual property from multiple people and companies over several years, as well as how the company went about recruiting employees from competitors.
The move is an escalation as the inquiries, which include a subpoena for documents from Huawei by federal prosecutors from the Eastern District of New York in Brooklyn, suggest that the government is investigating aspects of Huawei’s business practices that weren’t covered in indictments of Huawei issued earlier this year.
The algos did react very modestly to this headline but it’s coming back relatively quickly…
Will we get another tweet from the President proclaiming how well talks are going?