Contracts,
Civil Litigation
Oct. 4, 2021
Creators of Chinese online shopping site stole idea, suit claims
But lawyers for PacTech Holdings, a technology incubator and software product maker, say Fanli’s creators breached contract
Creators behind a billion-dollar web-based shopping company backed by the globe’s biggest venture capitalists have been accused of stealing their business idea from their former employer, according to a breach of contract lawsuit filed Friday in Los Angeles.
Founded in 2006 by former employees of PacTec Holdings LLC, Fanli Inc., based in Shanghai, sprung from a business idea to create a cash-back shopping rewards company from which revenu...
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