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Stock impact report

Dr. Valentin Gapontsev and IPG Settle Litigation with US Treasury over Congressional Report

IPG Photonics Corporation (IPGP) 
Last ipg photonics corporation earnings: 2/13 08:00 am Check Earnings Report
US:NASDAQ Investor Relations: investor.ipgphotonics.com
Company Research Source: GlobeNewswire
OXFORD, Mass., Sept. 11, 2019 (GLOBE NEWSWIRE) -- IPG Photonics Corporation (NASDAQ: IPGP) today announced that the U.S. Treasury publicly acknowledged Dr. Valentin P. Gapontsev is not an oligarch in the Russian Federation for purposes of Section 241 of Countering America’s Adversaries Through Sanctions Act (CAATSA). Litigation over his inclusion in the so-called oligarch report was resolved in consideration for the Treasury Department’s official and public finding that Dr. Gapontsev is not an oligarch in the Russian Federation, and he would not be included in the report to Congress if it were compiled today. Dr. Valentin P. Gapontsev, founder and CEO of IPG Photonics, a U.S.-based global leader in fiber laser technology, sued the U.S. Treasury in December 2018 over its report to Congress listing him as an oligarch of the Russian Federation under CAATSA. Dr. Gapontsev asserted that the U.S. Treasury had no basis in law or fact for including him in the report. The letter, signed by Show less Read more
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