Ninestar Reports Delay in Filing Delisting Petition
Earlier this month, Ninestar Corporation, reported to the U.S. Court of International Trade a delay in filing its delisting petition with the U.S. Homeland Security’s Forced Labor Enforcement Task Force (FLETF).
The company, however, said it “remains committed” to filing the delisting petition with FLETF.
Background
In June 2023, the U.S. Department of Homeland Security announced an embargo on Ninestar products, stating that Ninestar and eight of its subsidiaries were using forced Uyghur labor in China in violation of the U.S. Uyghur Forced Labor Prevention Act (UFLPA). The products included printers marketed by Ninestar’s Pantum business, as well as printer supplies and components.
NInestar denied the allegations, and in August 2023, filed a lawsuit against the U.S. Department of Homeland Security seeking to overturn the embargo. It also filed to obtain a preliminary injunction, which was denied, with the U.S. Court of International Trade, requesting that the court issue a preliminary injunction to overturn the embargo. Ninestar says the embargo has caused “irreparable harm to its business and reputation.”
Challenging Task
This month, the company said that preparing an effective delisting petition for FLETF) is “arduous and challenging under the circumstances.” Accordingly, while it says it’s diligently working to prepare its petition and has made significant progress in recent weeks, it remains unable at this time, to commit to filing by any particular date. It said it understands that its ability to file a delisting petition will expire on July 1st. However it says if it’s not able to file a petition by that date, it will petition the court to amend the deadline.
The company said its “commitment to pursuing its delisting objectives underscores its dedication to regulatory compliance and strategic legal maneuvering in a challenging operational environment.”
More Resources
- March 2024: Ninestar Denied Preliminary Injunction to Overturn U.S. Embargo
- January 2024: Ninestar Forecasts Big Losses for 2023; Cites U.S. Ban, Other Factors for Declines
- October 2023: Ninestar Reports Revenue and Profit Decline for Third Quarter
- October 2023: Int’l Imaging Council Denies Ninestar’s STMC Certification Over Forced Labor Issue
- September 2023: BTA Panel Discusses Ninestar’s Ban and Cautions Dealers
- September 2023: Ninestar Reports Sharp Profit Decline for First Half
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