Hong Kong Company Says US Subsidiary May Have Violated Iran Sanctions

A Hong Kong-based appliance maker said its subsidiary may have violated U.S. sanctions, according to its global offering released Dec. 9. JS Global Lifestyle Company said its subsidiary, U.S.-based SharkNinja Operating LLC, “engaged in a wire transfer” for a shipment on an Iran-flagged ship operated by the Islamic Republic of Iran Shipping Line, the company said. The transfer may be deemed a violation of the Iranian Transactions and Sanctions regulations and the company may be subject to a civil monetary penalty. The company said it is “committed to ensuring our compliances with relevant economic sanctions laws” and preventing a future violation, but said it will not “always be able to do so, for factors beyond our control or otherwise.”