SyQuest Technology, Inc. Suspends Operations and Requests Securities Trading Halt
FREMONT, Calif.--(BUSINESS WIRE)--Nov. 2, 1998--SyQuest Technology, Inc. (NASDAQ:SYQT) announced today that it has suspended operations and is considering alternatives including filing a Chapter 11 petition under the Bankruptcy Code. The Company plans to maintain limited support to its customers.
Under these circumstances, SyQuest has requested a halt in the trading of its securities. For further details on these and related matters, please consult the Company's Form 8K filed on October 27, 1998 and previous SEC filings.
This news release contains forward-looking statements that involve risks and uncertainties, including competition in the marketplace for the company's products, and other risks detailed from time to time in the SEC reports filed by SyQuest including its most recent reports on Forms 8K, 10K, and 10Q.
SyQuest is a registered trademark and the SyQuest logo is a trademark of SyQuest Technology, Inc. All other brands or trade names are the property of their respective companies.
CONTACT:
SyQuest Technology
Henry Lo, 510/226-4000 |
