Syntax-Brillian Corp. (Public, NASDAQ:BRLC) is today's biggest loser, falling 33% to under $1 a share, making it's one year-to-date return -88%.

In an 8-K filing with the Securities and Exchange Commission late Thursday, Syntax-Brillian said it has acknowledged certain 'specified events of default' under the credit agreement, and the lenders have agreed to forbear from exercising their remedies as a result of these specified events of default.

Add to it that on Feb 11th, BRLC said they need additional time to complete its financial statements for its second fiscal quarter ended December 31, 2007 and down the ship goes.

Who the hell is Syntax-Brillian again?

Syntax-Brillian Corporation (www.syntaxbrillian.com) is one of the world's leading manufacturers and marketers of LCD HDTVs, digital cameras, and microdisplay entertainment products. The Company's lead products include its Olevia(TM) brand (www.Olevia.com) high-definition widescreen LCD televisions -- one of the fastest growing global TV brands -- and Vivitar brand (www.vivitar.com) digital still and video cameras. Syntax-Brillian has built an Asian supply chain coupled with an international manufacturing and distribution network to support worldwide retail sales channels and position the Company as a market leader in consumer digital entertainment products.

The one chart on BRLC is yet another nightmare for investors:

Get ready for a rush of lawsuits against Syntax-Brillian, the 1st one of the day comes from Girard Gibbs LLP.

Their angle: Girard Gibbs LLP is investigating an alleged securities fraud by Syntax-Brillian Corp. and certain of its executives in connection with a secondary offering on or about May 24, 2007.

It is alleged that Syntax-Brillian issued a registration statement and prospectus filed with the SEC in connection with the May 24, 2007 public offering, which contained materially false and misleading statements, or omitted to state other facts necessary to make the statements made not misleading, concerning Syntax-Brillian's revenue growth, profitability, and its business in China. Syntax-Brillian failed to disclose in the registration statement and prospectus that while the company shipped hundreds of thousands of LCD televisions to its sole distributor in China during the Class Period, and recorded hundreds of millions of dollars in revenue in connection with these shipments, the end-user demand for the company's LCD televisions in China was much weaker than what investors were led to believe.

On September 12, 2007, Syntax-Brillian announced that the results for its first quarter 2008, ending on September 30, 2007, would be significantly below expectations. The company projected first quarter 2008 revenues of between $170-180 million, when analysts were expecting the company to report revenues of $254 million, a shortfall of more than 25%. On November 11, 2007, the company announced revenues for the quarter ended September 30, 2007, of $150.6 million, a decline of 26.6% from the previous quarter. The company also announced revenues for the quarter from China of $14.6 million, compared with $96.8 million in the prior quarter, a decline of approximately 85%. On November 15, 2007, shares of Syntax-Brillian closed at $2.89, a decline of approximately 10% from the prior day's closing price.

All aboard the hate train, hang in there Syntax-Brillian Corp.