Tuesday, September 25, 2018
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Search Gets New Features, More Visual and Personalized Information
Apple Completes Acquisition of Shazam
Snapchat Introduces Visual Search For Amazon Products
Apple macOS Mojave Update Brings Dark Mode, Stacks, New Apps, a Redesigned Mac App Store and More
Microsoft Focuses on Security and Brings AI to the Masses at Ignite 2018
Apple and Salesforce to Bring Siri to Business Apps
Surface Hub 2S and Hub 2X Coming in The Next Couple of Years
T-Mobile Revamps MetroPCs
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > Consumer Electronics > Vizio F...
Last 7 Days News : SU MO TU WE TH FR SA All News

Wednesday, July 12, 2017
Vizio Files Fraud Lawsuit Against China's LeEco Following Merger Failure

TV manufacturer Vizio alleges LeEco concocted a "secret plan" to create a false impression it was financially healthy and to steal information about customers.

Vizio is suing China's LeEco after a merger between the two companies was called off in April. The complaint, alleging fraud and breaches of agreement, comes days after a Shanghai court froze $182 million in assets controlled by LeEco chairman Jia Yueting over unpaid debts.

In a complaint filed in California federal court, Vizio alleges that when it entered into merger negotiations in December 2015, culminating in a deal in July 2016, the Chinese company's "far-flung corporate empire had begun to collapse due to their severe cash flow and financial problems, and that [LeEco] desperately needed to either obtain the instant financial stability, credibility and resources that a merger with VIZIO would bring, or at least to create a widespread and dramatic public impression of their own financial health and well-being to grow or continue in business that would come with the announcement of such an intended merger."

The Chinese company is also being accused of concocting a "secret plan" to leverage the merger "to gain or try to obtain access to VIZIO's large corporate customers and key decision makers thereat for their own purposes and by means of the confidential customer information that had been developed by VIZIO at substantial cost, time, and expense."

What's more, given the privacy sensitivities highlighted here, Vizio claims being induced into giving up access to "confidential customer information, including contact information, account history, purchasing needs or requirements, contract terms, and the like."

Vizio is now looking for the full $100 million and also demands punitive damages.

New Dell Latitude 2-in-1s Arrive With Wireless Charging Features        All News        Samsung Galaxy A7 Smartphone Released
Samsung MS750 Sound+ Soundbar Launches for $500     Consumer Electronics News      Technicolor Buys LG's TV Set-top Box Unit

Get RSS feed Easy Print E-Mail this Message

Related News
VIZIO's New 2018 Home Theater Sound Systems With Dolby Atmos is Starting at $499.99
Foxconn to Further Expand in the U.S. Market Though Vizio
VIZIO Launches Its 2018 TV and Sound Lineup
New VIZIO SmartCast M-Series Ultra HD HDR XLED Plus Display Collection Released
VIZIO's 2017 D-Series Smart TV Collection Includes 4K Ultra HD Support in Select Models
VIZIO Smart TVs Collected Viewing Histories on 11 Million U.S. Consumers
Chinese LeEco Showcases TV, Smartphone And Self-driving Car In San Francisco
VIZIO Debuts New Home Theater Google Cast Sound Bar Collection
VIZIO Releases New SmartCast E-Series Ultra HD Home Theater Display
VIZIO Debuts New Streaming Ecosystem on New VIZIO SmartCast P-Series Ultra HD HDR Home Theater Display
New VIZIO P-Series Ultra HD LED TVs Start From $1000
Vizio Announces 120-inch Ultra HD TV At CES

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .