Vizio LeEco accuses of lying and requires a 110 million dollar fine
And so to many problems of the company LeEco added another. She sued the company Vizio. We will remind, in the spring it became known that the deal between these companies involving the sale Vizio the Chinese giant for $ 2 billion, broke.
It was then discussed that this is supposedly due to the decision of the regulatory authorities. However, the Vizio in the end decided otherwise. The American company believes that LeEco initially provided false information about their intentions.
The plaintiff alleges that LeEco announced a deal with Vizio, first, in order to try to get access to data on large corporate clients acquired company, and secondly, to create the appearance of stability of its financial position. Vizio asserts that LeEco knew from the beginning that their financial possibilities are not enough for such a large transaction. In addition, LeEco did not pay the remaining $ 50 million fine after the announcement of the termination of the transaction.
Vizio has filed two lawsuits in different courts, in sum requiring LeEco $ 110 million.