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CFIUS Rejects FastWave Amid National Security Concerns

4/10/2026

Summary

Story summary

The Committee on Foreign Investment in the United States (CFIUS) rejected FastWave's request for a review, siding with Grand Pharmaceutical Group (Grand Pharma) in a case aided by lobbying firm Checkmate.
FastWave claimed the rejection arose from "material misstatements" in its filing.
Experts and lawmakers worry about Chinese companies influencing U.S. national security decisions through lobbying.
The White House defended CFIUS's integrity.
FastWave now faces significant financial distress.

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Story summary

The Committee on Foreign Investment in the United States (CFIUS) rejected FastWave's request for a review, siding with Grand Pharmaceutical Group (Grand Pharma) in a case aided by lobbying firm Checkmate.
FastWave claimed the rejection arose from "material misstatements" in its filing.
Experts and lawmakers worry about Chinese companies influencing U.S. national security decisions through lobbying.
The White House defended CFIUS's integrity.
FastWave now faces significant financial distress.