Wednesday, July 12, 2017
Vizio Sues LeEco Over Aborted, $2 Billion Deal
Irvine-based Vizio has filed two lawsuits against LeEco, after an aborted, $2 billion acquisition deal between the companies. The two lawsuits are looking for $110M in damages over the aborted deal, including buyer termination fees owed the company, plus damages over what Vizio says were false financial information provided to the company. The lawsuit claims that LeEco knew it was in a cash crunch, but still inked the deal to acquire Vizio anyway.