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Press Releases
V Cars LLC Reports That Chery Insists It Has Received No Information on the Suit Charging It Ran a Racketeering Enterprise by Wire Fraud, Conspiracy, Corporate Espionage and Theft Costing V Cars $14-Billion in Potential Profits, but Turned Legal Package Away When It Arrived SOUTHFIELD, MI--(Marketwire), 5 August 2008 -- V Cars, LLC, formerly Visionary Vehicles, LLC, announced today that while it has served Chery Automobile Company through its attorneys in Michigan, Chery has refused a FedEx, sent to the company's headquarters in Wuhu, containing documents relating to the lawsuit as well as a copy of the complaint. During the same time period, spokespeople, including Chery president Yin Tongyao, have been quoted in the Chinese media claiming to have no knowledge of lawsuit specifics. "This is part of a pattern of misrepresentations and evasions on the part of Chery that we detail in our complaint," said VCars CEO, Malcolm Bricklin. "The package was addressed to President Yin and came from our attorney, Andrew Kochanowski of Somers Schwartz Silver, an attorney and law firm with which Chery is quite familiar." "Chery has already been served by our providing the complaint to their agent in the United States, an attorney in Michigan," said Andrew Kochanowski. "We are hoping that the other defendants use the opportunity that federal rules provide to respond quickly to this action." On July 20, 2008 V Cars, formerly Visionary Vehicles, filed a Complaint and Demand for Trial by Jury in the United States District Court in the Eastern District of Michigan 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 Michigan. In the complaint VCars 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 // About : M140o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Media Contacts: Wendi Tush The Lexicomm Group (212) 300-2142 // Footnotes: M140o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Note To Editors: M140o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Disclaimer: M140o93H7pQ09L8X1t49cHY01Z5j4TT91fGfr Submitted by Marketwire, Marketwire on Tuesday, 5 August 2008 at 4:16 PM Category: Legal/Law |
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