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Hilgers is filing a lawsuit in the Nebraska state court, claiming that Resideo has broken the Nebraska Consumer Protection Act and the Uniform Deceptive Trade Practices Art. The company is accused of selling wares that are known to be insecure to unsuspecting consumers, and obscuring the OEMs for its cameras.
Resideo, a Honeywell spin-off with a market cap over $5 billion, apparently failed to properly disclose that the OEMs for its cameras are or were Hikvision and Dahua. The two Chinese companies are in several U.S. government restrictions, chiefly among them a ban by the FCC since November 2022 over concern of threats to national security. The lawsuit clams that Resideo sold Hikvision/Dahua cameras at least from 2021 to 2022 under its Capture brand, obscuring their origin.
US govt committee slams Nvidia over shared campus with banned Huawei affiliate
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/tech-industry/cyber-security/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/cyber-security/us-smart-home-company-accused-of-rebranding-footage-leaking-chinese-cameras-nebraska-ag-to-sue-resideo-over-selling-banned-security-cameras#main
- https://www.tomshardware.com
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Informational only. No financial advice. Do your own research.