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China's Pax Global says FBI, Homeland Security raided subsidiary office in Florida

China's Pax Global Technology Ltd, a point-of-sale device maker, said on Friday that U.S. federal investigators had earlier this week raided its subsidiary's office in Florida, but did not disclose the reason.

In a statement to the Hong Kong stock exchange, the company said officers of the Federal Bureau of Investigation and Customs and Border Protection executed a court order on Tuesday to seize certain items from its unit Pax Technology Inc's Florida office and warehouse.

A cyber security blog had then reported about the raid and had tied it to the company's likely involvement in cyberattacks on the United States and European Union organizations.

"As far as the board is aware ... there has neither been any reported cyberattack incidents nor cyberattack complaints, including any breach of security protocols, against PAX products and services anywhere in the world," the Shenzhen-based company said.

Pax Global said the authorities have not published a statement regarding the raid and it was not aware of any charge being filed against the company.

Trading in its shares on Hong Kong bourses has been halted since Wednesday after they plunged more than 40per cent. The company said on Friday the trading will resume on Nov. 1.

(Reporting by Sameer Manekar in Bengaluru; Editing by Arun Koyyur)

Source: Reuters

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