AMD, Intel, and TI are ‘merchants of death’ says lawyer representing Ukrainian civilians
Lenovo is far from the only company gathering such data, but the U.S. entity’s parent, Lenovo Group Limited, is incorporated in Hong Kong, with its headquarters located in Beijing, China. Furthermore, its largest shareholder is Legend Holdings Corporation, a Beijing-based investment firm established by the Chinese Academy of Sciences, a state institution of the People’s Republic of China.
So, aside from being based in one of the “countries of concern,” it also falls squarely under the “covered persons” provision of the DOJ regulation which include “individuals who either reside in ‘countries of concern’ or are controlled by entities in those countries or (ii) entities that are organized or chartered under the laws of, or have their principal place of business in, a country of concern, or are owned 50% or more by such entities.” More than that, the lawsuit asserts that Lenovo Group is subject to Chinese regulations like the National Intelligence Law, Cybersecurity Law, and Data Security Law, which compel individuals and institutions to cooperate with the authorities when asked for data.
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Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/premium
- https://www.tomshardware.com/tech-industry/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/lenovo-denies-allegations-of-transferring-data-to-china-class-action-lawsuit-alleges-company-uses-trackers-to-expose-american-behavioral-data-to-foreign-adversaries#main
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Informational only. No financial advice. Do your own research.