October 05, 2018
A California federal judge on Thursday released online computer retailer Newegg Inc. from a suit claiming the company helped fraudulently procure $3 billion in loans from four South Korean banks, saying the banks had failed to show that Newegg played any part in the alleged misconduct of its Chinese subsidiary.
September 19, 2018
Online computer retailer Newegg Inc. sought release from a fraud suit alleging the company helped procure $3 billion in loans from four South Korean banks, arguing in California federal court Wednesday that it is not directly liable for any alleged fraudulent activity.
October 23, 2017
Four Korean banks claim in a fraud suit filed in California federal court Wednesday that online computer parts retailer Newegg took part in a "classic Ponzi scheme" that involved fraudulently procuring more than $3 billion in loans, $230 million of which is still missing.