ZTE Warns Investors Of Possible US Sanctions Penalties

Law360, New York (April 6, 2016, 5:53 PM EDT) -- Chinese telecom giant ZTE Corp. said Wednesday it was cooperating with U.S. authorities accusing it of secretly doing business with Iran but warned it could still face penalties for violating American sanctions.

The company's announcement came alongside its 2015 annual report, in which it revealed that it had asked the Hong Kong Stock Exchange to allow its shares to resume trading April 7. Trading was halted on March 7, the same day the U.S. Department of Commerce's Bureau of Industry and Security accused ZTE of scheming to hide its business with Iran and possibly other sanctioned regimes and briefly added the...

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