SYQUEST TECHNOLOGY ANNOUNCES CONTINUED SALES OPERATIONS; ANNOUNCES ONLINE SUPPORT VIA THE WEB
Business Editors & High Tech Writers
FREMONT, Calif.--(BUSINESS WIRE)--Jan. 6, 1999--SyQuest Technology, Inc. (Nasdaq:SQYT) announced today that it has commenced limited sales operations of its popular family of removable cartridge hard drives.
SyQuest also announced that its website is back online in order to provide online troubleshooting and driver download support. SyQuest filed a Chapter 11 petition with the United States Bankruptcy Court in Oakland, Calif. on Nov. 17, 1998. Since the filing SyQuest stock continues to be suspended from trading, and the company's shares are likely to be delisted from NASDAQ in the very near future.
As previously announced, the company and its creditors are reviewing offers from strategic buyers. These offers are structured as sales of assets, and would not be likely to provide any return to shareholders. Please go to the SyQuest website at www.syquest.com for further information.
This news release contains forward-looking statements that involve risks and uncertainties, 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.
CONTACT: SyQuest Technology, Inc.
John Chun, 510/226-4957
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com |
