Credit: Devon Yu/Adobe Stock Sanctions Compliance Tripping Up Tech Firms
Investigators are getting more aggressive, and the geopolitical landscape is growing more complex.
April 27, 2023 at 10:15 AM
3 minute read
Microsoft and the crypto exchange Kraken are just two of the tech companies recently hit with fines over sanctions violations, a growing area of risk for the industry.
Earlier this month, the U.S. Department of Commerce and the U.S. Department of the Treasury imposed a $3.3 million penalty on Microsoft, saying the tech giant had allowed sanctioned Russian companies to access Microsoft software, among other violations.
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J. Brugh Lower of Gibbons has entered an appearance for industrial equipment supplier Devco Corporation in a pending trademark infringement lawsuit. The suit, accusing the defendant of selling knock-off Graco products, was filed Dec. 18 in New Jersey District Court by Rivkin Radler on behalf of Graco Inc. and Graco Minnesota. The case, assigned to U.S. District Judge Zahid N. Quraishi, is 3:24-cv-11294, Graco Inc. et al v. Devco Corporation.
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