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Case Status:    SETTLED
On or around 05/06/2011 (Date of stipulation and/or agreement of settlement)

Filing Date: July 07, 2010

The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, during the relevant time period the defendants issued false and misleading statements and/or caused Syntax-Brillian Corporation to issue such statements wherein it was expressly represented and/or implied that Syntax-Brillian Corporation had a viable business that could be restructured and operated as a going concern. Defendants knew that such implied and express representations were materially false and misleading because all defendants knew no later than March 2008 that Syntax-Brillian Corporation could not be operated as a going concern in any form due to reasons not publicly disclosed and which defendants actively concealed and/or aided and abetted the concealment thereof.

NOTE: Syntax-Brillian Corporation has filed a voluntary Chapter 11 petition for bankruptcy. Accordingly, Section 362(a) of the Bankruptcy Code mandates that an automatic stay take effect. But for Section 362(a) of the Bankruptcy Code, Syntax-Brillian Corporation would be named as a defendant in this action.

According to the Memo Endorsement entered on May 6, 2011, the parties have now reached a settlement of the Action; now therefore, in order to conclude the Action and to fulfill the requirements of the parties' settlement agreement, it is hereby stipulated and agreed, by and between the parties to the Action, through their undersigned counsel, that the Action should be dismissed as to defendants FTI Consulting, Inc. ("FTI") and Gregory Rayburn ("Rayburn"), without prejudice. It is hereby further stipulated and agreed that, on the day that is 90 calendar days after the date on which the parties' hereto executed this Stipulation, the dismissal will become a dismissal with prejudice as to FTI, Rayburn, and all Plaintiffs, and Plaintiffs will not be permitted to revive the Action against FTI or Raybum under any circumstances.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BRLC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 10-CV-05194
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 07/07/2010
CLASS PERIOD START: 11/15/2007
CLASS PERIOD END: 07/08/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gardy & Notis, LLP (NJ)
    440 Sylvan Avenue, Gardy & Notis, LLP (NJ), NJ 07632
    201-567-7377 201-567-7337 · info@gardylaw.com
  2. Squitieri & Fearon LLP (New York)
    32 East 57th Street, 12th Floor, Squitieri & Fearon LLP (New York), NY 10022
    212.421.6492 212.421.6492 · info@sfclasslaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 10-CV-05194
JUDGE: Hon. Paul G. Gardephe
DATE FILED: 02/01/2011
CLASS PERIOD START: 11/15/2007
CLASS PERIOD END: 07/08/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gardy & Notis, LLP (NJ)
    440 Sylvan Avenue, Gardy & Notis, LLP (NJ), NJ 07632
    201-567-7377 201-567-7337 · info@gardylaw.com
  2. Squitieri & Fearon LLP (New York)
    32 East 57th Street, 12th Floor, Squitieri & Fearon LLP (New York), NY 10022
    212.421.6492 212.421.6492 · info@sfclasslaw.com
No Document Title Filing Date