Chinese tech giant LeEco sued by ad agency

Chinese ad agency sues LeEco over missed payments

Chinese tech giant LeEco has been sued by a Chinese ad agency over missed payments according to a report by the Financial Times.

This follows the troubles the tech brand has faced since entering the US last year.

MIG Unmobi Tech, a mobile advertising company has filed lawsuits against four LeEco companies over $9.07m in missed payments.

These missed payments are supposedly for advertising campaigns that concluded at the end of last year. This was around the same time, founder, Jia Yueting wrote a letter to employees admitting the company burnt through cash too quickly in expanding.

MIG’s is pursuing lawsuits of Rmb 20m against Le Holdings – the holding company for LeEco companies – Rmb 18.5m from LeSports and Rmb 10.5m from LeMall.

Leshi is also being sued by MIG in two other lawsuits for missed paymentsof Rmb12.5m.

“We are working hard to resolve MIG’s complaints,” said a LeEco spokesperson.

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