By Jill Goldsmith Activist hedge fund Elliott Management, which recently extracted concessions from AT&T and Twitter, has Quibi in its sights, financing interactive video company Eko’s patent-infringement lawsuit against the streamer, according to a report in the Wall Street Journal Sunday.
As part of the financing, Elliott would end up with an equity stake in Eko, WSJ said, citing people familiar with the situation.
Quibi did not respond to request from Deadline on the move by Elliott Management The news raises the stakes in the acrimonious legal battle that started in March when Eko sued Quibi for stealing technology for a feature called Turnstyle, which adjusts videos for users in real time by switching between horizontal and vertical
Read more on deadline.com
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