Cardima Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Northern District of California Dec. 17 (In re Cardima Inc.).
Events Leading to Chapter 11.
According to forms filed with the Securities and Exchange Commission, Cardima’s board of directors approved the bankruptcy filing on Oct. 26, 2010.
The decision followed the company’s efforts to raise capital and find a strategic partner. The company attempted to reduce costs through layoffs and administrative cost reduction, but was unable to secure agreements to raise additional capital. The company filed for Chapter 11 protection to provide stability while ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.