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...
To view the full article, register now.