On December 19, 2023, Plexus Corp. Learned That The U.S. Department Of Commerce Placed Its Xiamen, China Subsidiary On The Bureau Of Industry And Security's Unverified List.
Portfolio Pulse from Benzinga Newsdesk
Plexus Corp. (NASDAQ:PLXS) announced that its subsidiary in Xiamen, China, has been placed on the BIS Unverified List by the U.S. Department of Commerce. The company is not barred from U.S. business and is working to address the BIS's questions to remove the subsidiary from the list. Plexus asserts it maintains a robust export compliance program and is committed to adhering to U.S. export control laws.
December 20, 2023 | 2:27 pm
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Plexus Corp.'s Xiamen subsidiary has been placed on the BIS Unverified List, which may raise concerns among investors about potential future restrictions, but the company is actively working to resolve the issue.
Being placed on the BIS Unverified List could potentially lead to future business restrictions, causing concern among investors and possibly affecting the stock price negatively in the short term. However, Plexus Corp.'s proactive approach to resolving the issue and its robust compliance program may mitigate some of the negative impact.
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