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LeEco founder Jia Yueting was ordered to return to China and settle the numerous debts of companies controlled by the troubled entertainment and technology group, Reuters reported earlier today, citing a Monday notice issued by the Beijing division of the China Securities Regulatory Commission (CSRC). The agency claims it already prompted Mr. Jia to return to the Far […]
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China’s top court put two units of LeEco on an official state blacklist of debt defaulters earlier this month, as originally noted by South China Morning Post. The Supreme People’s Court specifically blacklisted Leshi Holding and Leshi Yidong as debt defaulters, noting how the two have currently defaulted on 107 million Yuan, or approximately $16.38 million. While […]
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VIZIO on Monday filed a lawsuit against LeEco over the Chinese tech giant’s failed acquisition of the U.S. TV manufacturer, as the Irvine, California-based company is now seeking a buyer termination fee amounting to $75 million. The litigation was filed with the United States District Court for the Central District of California, Southern Division, and […]
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Beijing-based LeEco managed to secure a $2.2 billion injection from several new investors, as evidenced by yesterday’s stock exchange filings, Reuters reports. The parties that decided to back the struggling Chinese tech giant are Sunac China Holdings and Tianjin Jiarui Huixin Corporate Management Company that’s controlled by Sunac China. The residential property developer already announced plans to invest […]
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