Vizio has filed a lawsuit claiming $75 million in damages following the withdrawal of LeEco from a planned acquisition of the TV brand. Vizio said that LeEco has only paid $40 million from $100 million that was specified as a termination fee. It also said that when the deal was done, LeEco had already “begun to collapse due to their severe cash flow and financial problems”
Analyst Comment
The suit has been filed against Le Technology in California, although LeEco has already closed a lot of its US business (LeEco Closing in US and India). LeEco is just clinging on, by the look of it. (BR)
