A Judge in the United States has ruled in favor of ZTE earlier this week. The judgement arrives as the end to the company’s five year long probation following a guilty plea back in 2017 for shipping US technology to Iran and North Korea illegally.
As per an Aljazeera report, the trading for the Chinese telecommunications equipment maker’s shares were suspended before markets opened in Shenzhen and Hong Kong after the news of the ruling was announced by the US District Judge Ed Kinkeade in Texas. Notably, the decision also arrives on the final day of the company’s probation, over accusation involving the company and its alleged conspiracy to bring Chinese nations to the US to conduct research at the firm through visa fraud.
Furthermore, as per a former ZTE research director and a Georgia Institute of Technology professor allegedly conspired to bring Chinese nations into the US to conduct research at ZTE between 2014 and 2018 while on the J-1 visas, which were sponsored by the university. Although the brand has not been charged in the visa case, the judge held a hearing in Dallas last week over allegations of fraud and violation of its original probation.
In the latest ruling, Kinkeade stated that ZTE was legally responsible for the actions of its former director, but decided to not take any further actions against the firm. ZTE has already reached the maximum term of probation and has argued that it had already been fined the maximum amount as well, which ammounted to 892 million US Dollars. The judge wrote that there was an “open question about legal tools left for the court.”
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