February 8th, 2012
Posted on 25. Aug, 2010 by PublicWire in Finance
(SUNV.OB) Sunovia(TM) Energy Technologies, Inc. Files Response To EPIR’s Complaint
(PublicWire.com Finance News Release)Sunovia(TM) Energy Technologies, Inc. (OTC Bulletin Board: SUNV)(”Sunovia”), a clean-tech company specializing in solar technology and LED lighting, announced today that it has filed a response to EPIR’s complaint, and has asserted, among other things, fraud, misappropriation of funds and non-performance.
Sunovia’s counterclaims include allegations against EPIR Technologies, Inc. (”EPIR”), EPIR’s founder and Chief Executive Officer, Sivalingam Sivananthan (”Sivananthan”), and Sivananthan Laboratories, Inc. (”Labs”). Labs is an Illinois company incorporated by Sivananthan on September 9, 2009, with operations adjacent to EPIR.
The counterclaims allege, among other things, that EPIR: (a) diverted funds paid by Sunovia, and then attempted to conceal the same when Sunovia requested information to which it was entitled; (b) fraudulently concealed from Sunovia patent applications claiming technology developed under the agreement; and (c) attempted to destroy or appropriate Sunovia’s investment in EPIR and the joint development effort.
Sunovia’s Chairman and CEO, Carl Smith stated, “We did everything within our power to resolve these issues amicably; however, it became apparent that a fair and reasonable resolution would not be possible without a legal fight. We are prepared to vigorously protect and defend Sunovia against the complaints filed by EPIR, and will continue to pursue a resolution to this matter that is in the best interest of Sunovia’s shareholders.”
(SUNV.OB) Sunovia(TM) Energy Technologies, Inc. Files Response To EPIR’s Complaint
About Sunovia Energy Technologies, Inc.
Sunovia Energy Technologies is a Sarasota, Florida based clean-tech company that develops and markets products within the LED lighting and solar markets that reduce carbon emissions, promote national security and preserve the environment.
Sunovia’s LED lighting technologies have the highest Energy Star(R) Fitted Target Efficiency (FTE) ratings in the industry, and are among the most cost and energy-efficient in the world. The products are marketed under the brand name EvoLucia(R).
More information about Sunovia is available in Sunovia’s Securities and Exchange filings at www.sec.gov, or at the company’s Web sites, www.sunoviaenergy.com and www.evolucialighting.com.
The Sunovia(TM) logo is a registered service mark of Sunovia Energy Technologies, Inc. in the United States and/or other countries. Sunovia Energy products and services and EvoLucia(R) products and services are provided by Sunovia Energy Technologies, Inc.
SUNV.OB, SUNV.OTCBB, OTCBB:SUNV, SUNV
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