LeEco Billionaire Apologizes for Remarks on Share-Boosting

Leshi Internet Information & Technology Corp.’s shares climbed Friday after billionaire founder Jia Yueting apologized for making “inappropriate” comments about boosting the share price of LeEco’s main listed unit to 100 yuan. Jia’s remarks, made to investors at a public forum, was the latest slip-up for a technology conglomerate that in past months has struggled to deal with a cash squeeze, pay its suppliers and respond to criticism about its capital-intensive business model.