Companies Stephen Lane resigned as president of Emerson Radio, saying it was an effort to spare the company further adverse publicity over his financial affairs.

After he left Crosley, Israel went on to become chief engineer and later executive vice president of Emerson Radio.

The Emerson Radio and Phonograph Corporation decided to fight in court rather than settle.

Emerson Radio said it had formed an alliance with Fidenas Investment, a foreign investment group.

This was his third win of the season, and his second "sweep" of the season, having won the Emerson Radio 250 the night before.

Despite harsh competition, Emerson Radio raised its sales and earnings in fiscal 1980 to $81.9 million and $1.6 million, respectively.

Emerson Radio and its senior managers have denied the allegations of insider trading.

Whatever the outcome of this most recent squabble, the pending shareholder lawsuit seems likely to be an increasingly expensive and embarrassing one for Emerson Radio.

Next race is the Emerson Radio 250 at Richmond International Raceway.

The former president of Emerson Radio and his wife were ordered to pay more than $6 million to Drexel.