Shangai Phoenix Bicycles files lawsuit against Ofo for unpaid bills
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A lawsuit has been filed against Chinese bike sharing company Ofo, for unpaid bills amounting to $10 million. The company had placed an order for five million bikes with manufacturer Shanghai Phoenix Bicycles but only took delivery of less than two million bikes. The manufacturer has sued Ofo to recover their money. Ofo has pulled back operations from some countries due to high competition and changed regulations.