Syntax-Brillian Shareholders Sue Execs Over Collapse

Law360, New York (September 16, 2008, 12:00 AM EDT) -- A slew of shareholders has sued former executives and board members from bankrupt TV manufacturer Syntax-Brillian Corp., alleging they signed off on false financial reports before the company collapsed.

In a complaint filed Friday in the U.S. District Court for the District of Arizona, 63 shareholders accuse former CEO and board chairman Vincent Sollitto Jr. and six others of misrepresenting the company's growth from mid-2006 to late 2007.

The shareholders claim they relied on false and misleading statements that the defendants made to the U.S. Securities...
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