Defense Contractors Battle Over $34M EOIR Sale

Law360, New York (October 1, 2009, 2:17 PM EDT) -- The holding company for EOIR Technologies Inc. — which makes night vision supplies for the U.S. Army — has accused the defense contractor's former owner of withholding key information about the value of a $500 million government contract during negotiations for the sale of EOIR, which was potentially worth $34 million.

EOIR Holdings LLC sued Bethesda, Md.-based Technest Holdings Inc. for breach of contract in the U.S. District Court for the District of Delaware on Wednesday, arguing that the purchase agreement for the 2007 sale requires...
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