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GigaMedia facing $40m lawsuit

7th July 2011 9:04 am GMT

Everest Gaming part-owner GigaMedia Ltd. is facing a US$40m lawsuit in the United States, alleging that its operations in China are illegal under the country’s laws.

According to Dacheng Law Offices which filed the suit in a Federal District Court in Los Angeles, the complaint seeks $40m in damages and a court declaration affirming that Gigamedia's business structure, operating in China as a Variable Interest Entity (VIE), is invalid and illegal under the laws of People's [...]

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