[Global Science and Technology Report] According to reports on July 12th by TC website, LeTV planned to spend US$2 billion to purchase US-based TV maker Vizio last summer. However, due to a series of problems such as a major cash crisis, LeTV was aborted in March and Vizio now Sued LeTV to recover $100 million worth of sellers' termination fees.
Vizio claimed that LeTV had previously proposed the establishment of a joint distribution agreement to pay $40 million to Vizio in advance, and to pay $10 million after the conclusion of the new agreement, leaving the remaining $50 million as the capital contribution of the joint venture. However, Vizio said that LeTV has never intended to pay this one billion US dollars, and even intends to reduce debt by 60%. The deal is not optimistic about the outside world.
The lawsuit alleges that LeTV’s CEO, Senior Finance and the manager of LeSports Holdings misled Vizio executives about the well-being of their holding company. Vizio believes that LeTV will benefit from the public announcement of the acquisition of Vizio and seeks access to Vizio's major customers and policy makers.
A few days ago, Shanghai courts frozen $180 million in assets of LeTV’s founder, former CEO, his wife and three affiliates. (Internship Compilation: Sun Ruiyu Reviewer: Li Zongze)
Absolute rotary Encoder measure actual position by generating unique digital codes or bits (instead of pulses) that represent the encoder`s actual position. Single turn absolute encoders output codes that are repeated every full revolution and do not output data to indicate how many revolutions have been made. Multi-turn absolute encoders output a unique code for each shaft position through every rotation, up to 4096 revolutions. Unlike incremental encoders, absolute encoders will retain correct position even if power fails without homing at startup.
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