secwatch.observer — SEC 8-K summary
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Issuer:     RELIABILITY INC (RLBY)
CIK:        0000034285
Form:       8-K
Filed at:   2022-09-07T23:59:59+00:00
Accession:  0001493152-22-025288
Event type: litigation
Sentiment:  positive
Materiality: 0.85
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Reliability Incorporated wins arbitration award of ~$11.9M plus interest; receiver appointed
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- Award of $3.46M to MMG under Note I (4.5% interest), $800k under Note III (2.5% interest) from June 30, 2022.
- $2.31M personal guaranty award against Naveen Doki (6% interest); $1M in stock transfer to company.
- $4.33M fraud damages award against Naveen, Valleru, Janumpally, Pathuri jointly/severally (6% interest).
- Rehabilitative receiver appointed to collect damages due to board deadlock; voting restrictions on certain shares.
- Parties have until September 19, 2022 to submit proposals for the receivership.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/34285/000149315222025288/0001493152-22-025288-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/34285/000149315222025288/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-025288

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer