Huawei files legal challenge against the US
According to the company, the US regulators unfairly label the company as a national security threat
Stocks impacted: Huawei Culture Co Ltd (002502)
Chinese telecoms giant has launched a legal challenge to a decision by American regulators to classify it as a national security threat. The company is seeking to block a Federal Communications Commission decision that further restricts Huawei’s ability to operate there. Huawei filed a petition with the Fifth Circuit Court in New Orleans challenging the FCC decision. As a reminder, the US Federal Communications Commission put curbs on rural mobile providers using a $8.5bn government fund to buy Huawei equipment. According to the Chinese giant, the step by US regulators violates its due process rights and unfairly labels the company as a national security threat. Huawei Culture Co Ltd stocks rose 1.57% on Thursday.
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