Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Ultrafem(UFEM) great potential-new feminine protection -- Ignore unavailable to you. Want to Upgrade?

To: Benchman who wrote (263)	4/1/1998 5:35:00 PM
From: Jason Flora	Read Replies (1) \| Respond to of 272

Ultrafem Files Chapter 11 Bankruptcy Petition PR Newswire - April 01, 1998 17:18 UFEM %HEA %BCY V%PRN P%PRN NEW YORK, April 1 /PRNewswire/ -- Ultrafem, Inc. (Nasdaq: UFEM) announced today that it has filed a Chapter 11 bankruptcy petition. They also announced a lay off of 45 employees in their Montana and New York facilities, shutting down business operations in the two locations, while maintaining personnel necessary to administer the bankruptcy proceedings. In addition, Charles D.Peebler, Jr. resigned from the Board of Directors on March 2, 1998, according to Joy V. Jones, chairperson. The Company also announced that two purported class action lawsuits have been filed against the Company, certain of its officers, directors, and former directors. The Company believes the allegations in these complaints are without merit. These actions will be stayed as a result of the Chapter 11 filing. Ultrafem is a women's health care company. The Company's business strategy is to develop, manufacture and market proprietary products based on its patented SoftCup(R) technology. SOURCE Ultrafem, Inc. /CONTACT: Philip L. Thomas of The P.L. Thomas Group, Inc., 312-906-8060/ (UFEM)