Does this qualify as a CFAA violation? I think so and for monetary gain, no less. I would like to hear why wouldn't the DA that leaned so hard on Swartz wouldn't do the same FTDI's CEO.
Legally, I'd be surprised. They are re-implementing the FTDI protocol, which is completely legal. They are reusing FTDI's PID/VID, which might or might not be a violation of the USB specs or USB recommendations -- I'm not sure about that -- but I'd be really surprised if that matches the legal definition of "counterfeit" for which customs has the right (and duty) to stop imports.