Malcolm Bricklin's V Cars, LLC has issued this press release regarding the filing of a federal racketeering lawsuit:
V Cars, LLC, formerly Visionary Vehicles, LLC, recently announced that it has filed a complaint and demand for trial by jury against Chery Automobile Co., LTD, Yin Tongyao, Kan Lei, Chery Quantum Automobile Corporation, Israel Corporation and Quantum, LLC.
V Cars, LLC filed the complaint under the Federal Racketeer Influenced and Corrupt Organizations ("RICO") Act and state law of Michigain the U.S. District Court in the Eastern District of Michigan.
V Cars, LLC will be represented by Andrew Kochanowski and Daniel D. Swanson of Sommers Schwartz, P.C. and Fred A. Schwartz of Adorno and Yoss, LLP.
According to the complaint, Chery Automobile Co., LTD has consistently plundered Western technology. The company settled with Volkswagen in 2003 after it violated intellectual property laws by using parts from the well-known Volkswagen Jetta.
Also that year, according to the complaint, Chery manufactured a copy of the General Motors Chevrolet spark that it called the QQ. GM filed suit and Chery settled with the assistance of the Chinese government.
In the recent complaint, V Cars, LLC claims Chery induced V Cars into giving it plans for a North American distribution business, subverted a highly-placed employee and committed acts of fraud after it decided not to go through with a deal it made with V Cars.
The lawsuit claims loss of $14 Billion in potential profits and a $26 Million investment.
For a copy of the complaint, please email <a href=mailto:[email protected]>[email protected]</a> or <a href=mailto:[email protected]>[email protected]</a>.