Wingtech, unit file lawsuit against Nexperia B.V., related entities, seek $1.2 billion in damages

A court in the southern Chinese province of Guangdong ⁠has accepted ​the ⁠case, the company said in a ⁠filing to the Shanghai Stock Exchange. Wingtech, ​which owns Nexperia, said its ⁠control over the Dutch chipmaker remains restricted. ⁠Disputes ​began when the Dutch government took control of Netherlands-based ⁠Nexperia from its Chinese parent Wingtech ⁠last ⁠year. ($1 = 6.7947 Chinese yuan renminbi)

​Wingtech Technology on ​Friday said ‌it and ​a unit have filed a ‌lawsuit against Nexperia B.V. and five other entities while provisionally seeking 8 ‌billion yuan ($1.18 billion) in compensation for ‌economic losses. A court in the southern Chinese province of Guangdong ⁠has accepted ​the ⁠case, the company said in a ⁠filing to the Shanghai Stock Exchange.

Wingtech, ​which owns Nexperia, said its ⁠control over the Dutch chipmaker remains restricted. ⁠Disputes ​began when the Dutch government took control of Netherlands-based ⁠Nexperia from its Chinese parent Wingtech ⁠last ⁠year. ($1 = 6.7947 Chinese yuan renminbi)