Market Overview

InterDigital to Submit Proposed Commitments Request, to Cooperate with China Investigation

Related IDCC
Earnings Scheduled For February 19, 2015
InterDigital Reacts to CAFC Decision in ITC '800 Appeal
Juniper Networks (JNPR) Offers $600 Million Senior Notes - Analyst Blog (Zacks)

InterDigital, Inc. (Nasdaq: IDCC), a wireless research and development company, today announced that it is continuing to cooperate with an Anti-Monopoly Law (AML) investigation by China's National Development and Reform Commission (NDRC) and intends to submit a proposed commitments request to NDRC that could form the predicate for suspension of NDRC's investigation under a procedure provided for under the AML. On January 3, 2014, an InterDigital executive, accompanied by local and U.S. outside counsel, met with NDRC officials to respond to NDRC's investigation, to explain the Company's recent settlement agreement with the Chinese company in this matter and to discuss the way forward for resolving NDRC's investigation of InterDigital's licensing conduct. The Company executive reiterated at the meeting that InterDigital fully respects the authority of NDRC to implement the AML against monopolistic conduct that restricts competition in China's market.

During the January 3 meeting, NDRC officials indicated that InterDigital's executives, as well as executives of any other foreign company, should have no concerns about being detained or arrested if they travel to China to meet with NDRC in response to an AML investigation, as there is no legal basis for such action under Chinese anti-monopoly laws. NDRC also indicated that any foreign company that has been requested to appear before NDRC to respond to an investigation may propose who will attend the meeting on the company's behalf, which may include foreign outside counsel with a good understanding of the AML. The InterDigital executive indicated to NDRC that it was unfortunate that the Company had misunderstood Chinese law and NDRC's rules and procedures in that regard.

InterDigital will continue to cooperate with NDRC's anti-monopoly investigation and work with NDRC to resolve any remaining concerns.

Posted-In: News Global


Related Articles (IDCC)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Our Experts vs. S&P 500Powered by Benzinga
Marketfy Products Return S&P 500
Morning Profit Maker 42.72% 6.69%
The Option Prophet 91.14% 6.69%
SecretCaps 26.55% 6.69%
Short-Term Trend Trading 11.89% 6.69%
View the highest rated products→