I believe I have done as much research on BYD Company as possible.
There has been one item, likely overhanging BYD, just as any other company would be effected once a Lawsuit enters the equation.
Those of you who have researched BYD deeply would be aware of a Lawsuit filed by Foxconn. Before I proceed let me first state that I am posting some Very Good News for BYD. And Foxconn is now has some serious legal problems in front of them. I will add some pasted and links.
A brief Overview of what you'll find, aside from this Lawsuit now being dismissed, will show that BYD will likely file a Lawsuit against Foxconn. I expect that at the very least Foxconn will now have to reimburse BYD for any and all expenditures BYD had to make. But one area that will have to be weighed by a Judge or Arbitrator, would be how much damage has BYD suffered for the Roadblocks that Foxconn kept putting in front of BYD advancing.
It appears that Foxconn had filed charges against BYD, making an allegation that wasn't only False, it was something they [Foxconn] was doing.
As it stands now there are some "Officials" charged with taking Bribes and falsifying information. The only Employee now facing charges for passing on confidential Company data is a BYD employee bribed by Foxconn [the opposite of the Lawsuit] for giving Foxconn BYD classified info. This sounds similar to what we often see in politics; one Party accusing the other of doing something they are doing.
You'll also find that Foxconn has a history of being a serial filer of Lawsuits. They already had a tarnished reputation, especially in a Lawsuit they had made against two News Reporters [Foxconn lost and ended up having to pay the reporters. I was shocked after finding all I did about Foxconn. They virtually made a series of Public Relations disasters, and frequently used Lawsuits. I have loads of research notes, but let me limit it to the most recent, and very Positive effect this will be for BYD. If anyone wants my notes on this, I'll post them. Its quite a lot, and shows Foxconn in a very bad light.
BLOOMBERG: BYD Says Criminal Probe Ended, Beijing Patent Officers Arrested
By Patricia Kuo
Dec. 2 (Bloomberg) -- BYD Co. said that Chinese authorities had ended a criminal probe into the company after arresting three patent officers and an ex-BYD employee for taking bribes in relation to the case.
Three staff at the Beijing JZSC Judicature Appraisal Center for Intellectual Property were accused of destroying and fabricating evidence, BYD, China’s biggest maker of rechargeable batteries, said in a Hong Kong stock exchange statement today. The ex-BYD employee has been charged with accepting bribes and with stealing company information, it said.
============================================
BYD charges dropped, probe officials arrested - press
2008/12/04 08:48
In a dramatic turnaround for the mainland's largest rechargeable battery maker, charges
that BYD (01211) poached trade secrets from rival Foxconn International Holdings (02038)
have been dropped and government officers investigating the complaint have instead been
arrested.
News that an investigation prompted by the Foxconn complaint has now been dropped was
released in a statement to the stock exchange by BYD yesterday.
The statement said the Public Security Bureau had instead arrested certain responsible
officers, namely Zhao Jun, Chen Yong and Liu Fuxing of Beijing JZSC. <South China Morning
Post>
There has been one item, likely overhanging BYD, just as any other company would be effected once a Lawsuit enters the equation.
Those of you who have researched BYD deeply would be aware of a Lawsuit filed by Foxconn. Before I proceed let me first state that I am posting some Very Good News for BYD. And Foxconn is now has some serious legal problems in front of them. I will add some pasted and links.
A brief Overview of what you'll find, aside from this Lawsuit now being dismissed, will show that BYD will likely file a Lawsuit against Foxconn. I expect that at the very least Foxconn will now have to reimburse BYD for any and all expenditures BYD had to make. But one area that will have to be weighed by a Judge or Arbitrator, would be how much damage has BYD suffered for the Roadblocks that Foxconn kept putting in front of BYD advancing.
It appears that Foxconn had filed charges against BYD, making an allegation that wasn't only False, it was something they [Foxconn] was doing.
As it stands now there are some "Officials" charged with taking Bribes and falsifying information. The only Employee now facing charges for passing on confidential Company data is a BYD employee bribed by Foxconn [the opposite of the Lawsuit] for giving Foxconn BYD classified info. This sounds similar to what we often see in politics; one Party accusing the other of doing something they are doing.
You'll also find that Foxconn has a history of being a serial filer of Lawsuits. They already had a tarnished reputation, especially in a Lawsuit they had made against two News Reporters [Foxconn lost and ended up having to pay the reporters. I was shocked after finding all I did about Foxconn. They virtually made a series of Public Relations disasters, and frequently used Lawsuits. I have loads of research notes, but let me limit it to the most recent, and very Positive effect this will be for BYD. If anyone wants my notes on this, I'll post them. Its quite a lot, and shows Foxconn in a very bad light.
BLOOMBERG: BYD Says Criminal Probe Ended, Beijing Patent Officers Arrested
By Patricia Kuo
Dec. 2 (Bloomberg) -- BYD Co. said that Chinese authorities had ended a criminal probe into the company after arresting three patent officers and an ex-BYD employee for taking bribes in relation to the case.
Three staff at the Beijing JZSC Judicature Appraisal Center for Intellectual Property were accused of destroying and fabricating evidence, BYD, China’s biggest maker of rechargeable batteries, said in a Hong Kong stock exchange statement today. The ex-BYD employee has been charged with accepting bribes and with stealing company information, it said.
============================================
BYD charges dropped, probe officials arrested - press
2008/12/04 08:48
In a dramatic turnaround for the mainland's largest rechargeable battery maker, charges
that BYD (01211) poached trade secrets from rival Foxconn International Holdings (02038)
have been dropped and government officers investigating the complaint have instead been
arrested.
News that an investigation prompted by the Foxconn complaint has now been dropped was
released in a statement to the stock exchange by BYD yesterday.
The statement said the Public Security Bureau had instead arrested certain responsible
officers, namely Zhao Jun, Chen Yong and Liu Fuxing of Beijing JZSC. <South China Morning
Post>
