Home deals Vizio files $100M lawsuit against LeEco

Vizio files $100M lawsuit against LeEco

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Photo via Monkeyhead on Vimeo under the Creative Commons License

Tech Crunch reports: “Last summer LeEco announced it intended to purchase the U.S.-based TV maker Vizio for $2 billion. The deal fell through in March amid myriad problems surrounding LeEco, including a major cash crunch. Allegedly the deal included a $100 million buyer-termination fee and now Vizio has filed suit in a California court to collect payment. Vizio claims that in lieu of paying Vizio the fee, the Chinese company offered to set up a joint distribution deal, which would have included paying Vizio $40 million up front, $10 million after the new deal closed with the remaining $50 million turned into a capital contribution for the joint venture.”

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