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Gemini Files Suit Against DCG And CEO Silbert Over Alleged Fraudulent Actions
Friday, July 7, 2023 - 2:07pm | 496Cryptocurrency exchange Gemini has initiated legal proceedings against Digital Currency Group (DCG) and its CEO, Barry Silbert, accusing them of misleading creditors. Gemini, in a court document submitted on July 7 in New York, accused DCG and Silbert of partaking in a plot that involved loaning...
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SEC Puts $30M Fine On Ice For BlockFi Amid Bankruptcy
Friday, June 23, 2023 - 11:33am | 471The U.S. Securities and Exchange Commission (SEC) consented to defer the collection of a $30 million fine from the insolvent crypto lending platform BlockFi until such time as the investors have been reimbursed. What Happened: Initially, BlockFi was under obligation to pay a $50 million penalty to...
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$10B Buyout Goes Bust: Envision Healthcare Backed By KKR Files Bankruptcy
Tuesday, May 16, 2023 - 9:32am | 330The doctor staffing company Envision Healthcare declared bankruptcy five years after KKR & Co Inc's (NYSE: KKR) $10 billion leveraged purchase that took Envision Healthcare private. The move will likely wipe out the $3.5 billion stake that private equity...
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Athenex Voluntarily Filed For Chapter 11 Proceedings, Shares Plunge
Monday, May 15, 2023 - 11:11am | 377On Sunday, Athenex Inc (NASDAQ: ATNX) and certain of its subsidiaries voluntarily filed for Chapter 11 proceedings. Athenex agreed with its lenders to move forward with an expedited sale process of its assets, the company said in a statement. The company has listed estimated assets...
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Why Bed Bath & Beyond Stock Is Diving After Hours
Tuesday, April 25, 2023 - 5:14pm | 428Bed Bath & Beyond Inc (NASDAQ: BBBY) shares are trading lower in Tuesday's after-hours session after the company received a delisting notice from the Nasdaq. What Happened: The Nasdaq sent a notice to Bed Bath, informing the company that it has decided to delist its...
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Bed Bath & Beyond Stock Certain To Go To Zero, Says Whitney Tilson: 'There Will Be No Miracle Like Hertz'
Tuesday, April 25, 2023 - 2:32am | 435Home furnishings retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) plummeted on Monday after it confirmed that it has filed for Chapter 11 bankruptcy protection. Former hedge fund manager Whitney Tilson weighed in on the development. What Happened: Tilson, the founder and CEO of investment advisory...
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Why Are National CineMedia Shares Trading Higher Today?
Wednesday, April 12, 2023 - 8:48am | 506National CineMedia, Inc (NASDAQ: NCMI) disclosed filing a voluntary Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas. On April 11, the cinema advertising network shared the bankruptcy update to facilitate its debt restructuring. The company announced a...
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AMC Britain Rival Cineworld Files Restructuring Plan in Bankruptcy Court, Shareholders to be Wiped Out
Tuesday, April 11, 2023 - 7:22am | 385On Tuesday, Cineworld Group PLC (OTC: CNNWQ) (OTC: CNWGQ) said it had filed a reorganization plan in a Texas bankruptcy court to dissolve existing shareholdings effectively. The filing formalizes the cinema chain operator's April 3 deal that includes plans to cut debt by...
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Richard Branson's Space Dreams Crash As Virgin Orbit Files For Bankruptcy
Tuesday, April 4, 2023 - 2:06am | 428Richard Branson‘s Virgin Orbit Holdings Inc (NASDAQ:VORB) has filed for Chapter 11 bankruptcy, a day after flagging substantial doubt about its ability to continue as a going concern for at least 12 months. What Happened: Virgin Orbit lodged the Chapter 11 bankruptcy filing in the U.S....
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Codiak BioSciences Files For Chapter 11 Bankruptcy
Monday, March 27, 2023 - 12:49pm | 291Codiak BioSciences Inc (NASDAQ: CDAK) voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets. The company began a marketing process ahead...
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Bankrupt FTX's Wild Ride: Creditors Make Bold Move To Cash In On Mysten Labs Stock
Friday, March 24, 2023 - 5:20pm | 457Creditors of the collapsed cryptocurrency exchange FTX have approved a proposal to sell its preferred stock in Mysten Labs, the developer of the Sui blockchain. A March 22 document filed with the U.S. Bankruptcy Court in the District of Delaware outlines a proposed arrangement between FTX creditors...
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The Inevitable End - SVB Financial Officially Files For Bankruptcy In New York
Friday, March 17, 2023 - 8:59am | 328SVB Financial Group (NASDAQ: SIVB) has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court for the Southern District of New York to preserve value. SVB Securities, SVB Capital's funds, and general partner...
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Within Two Years Of Public Debut, COVID-19 Test Maker Files For Bankruptcy
Thursday, February 23, 2023 - 10:15am | 361Lucira Health Inc (NASDAQ: LHDX) filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. The company further disclosed that it intends to pursue a sale of its business under Section 363 of the...
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Sorrento Therapeutics Stock Nosedives After Filing Bankruptcy Paperwork
Monday, February 13, 2023 - 12:08pm | 341COVID-19 drug and vaccine developer Sorrento Therapeutics Inc (NASDAQ: SRNE) is filing for bankruptcy following a lengthy legal dispute. The biotech submitted its Chapter 11 filing, per an SEC filing, after losing an arbitration battle to billionaire Patrick Soon-Shiong's...
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Bitcoin ATM Operator Coin Cloud Seeks Bankruptcy Protection, Owes Millions To Genesis Global
Thursday, February 9, 2023 - 3:00pm | 401Coin Cloud, a Las Vegas-based company that operated more than 4,000 Bitcoin ATMs in the U.S. and Brazil, declared Chapter 11 bankruptcy. The court filing estimated the company's liabilities to be between $100 million and $500 million, with Genesis Global Trading, a subsidiary of...