LeTV Sues Tudou for Breach of Contract

Chinanews.com, 11/20/12

Beijing-based online video platform operator LeTV (Leshi) (300104.SZ) plans to sue Chinese online video operator Youku Tudou (NYSE: YOKU) subsidiary Quan Toodou Network Science and Technology, which holds the online video license for Tudou.com, for breach of contract.

LeTV alleges that it signed a cooperation agreement with Quan Toodou in August 2010 to jointly construct tudou.letv.com with a termination date of November 30, 2013, but Quan Toodou sent a letter to LeTV in August 2012 terminating the contract and has refused to honor terms since April 2012. LeTV has requested the court order Toodou honor the contract and pay over RMB 25 mln in outstanding debts and penalties.

Keywords: Internet LeTV Tudou Youku Tudou 300104.SZ YOKU Leshi litigation law

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