Benzinga | Jun 15, 2021 09:27AM EDT

DoD Relieves Luokung Technology From Communist Chinese Military Company Designation, Company Says

* Chinese interactive location-based services and big data processing technology company Luokung Technology Corp (NASDAQ:LKCO) announced the U.S. Department of Defense's (DoD) removal of the company's designation as a Communist Chinese Military Company.

* Luokung and its shareholders were no longer subject to any restrictions.

* Luokung and the government Defendants had filed a joint stipulation to have the company's lawsuit challenging the designation dismissed, closing the case.

* Luokung regained eligibility for inclusion in the FTSE GEIS (Micro Cap) index and expects to be re-included on June 21, 2021.

* Price action: LKCO shares traded lower by 0.45% at $2.25 in the premarket session on the last check Tuesday.