Syntax-Brillian Sells Olevia For $1M, Settles Suit

Law360, New York (May 11, 2009, 12:00 AM EDT) -- Bankrupt TV maker Syntax-Brillian Corp. has sold its Olevia brand of televisions and associated intellectual property to Emerson Radio Corp. for $1.27 million, and at the same time settled an adversary suit from Amergence Technology Inc. that had challenged the sale.

The sale was announced Monday after Emerson submitted the winning bid at an auction held April 29. The day before the auction, Amergence, which had agreed to serve as a stalking horse bidder for the Olevia brand, had filed a breach-of-contract suit against Syntax-Brillian in...
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