Bankruptcy

NanoString Technologies and Subsidiaries File for Bankruptcy Protection Following $31 Million Patent Infringement Case

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Seattle-based NanoString Technologies and three of its subsidiaries have filed for Chapter 11 bankruptcy protection, citing a $31 million jury award in a patent infringement lawsuit. The dispute arose after rival company 10x Genomics accused NanoString’s GeoMx® Digital Spatial Profiler (DSP) of infringing seven patents exclusively licensed to 10x by Prognosys Biosciences. The jury decided in favor of 10x, awarding them $31 million in damages. NanoString’s shares dropped 50% following the announcement of the award. In response, NanoString withdrew its full-year 2023 guidance to investors, which had projected revenue between $175 million and $185 million. … Read more

Otterbourg P.C. Welcomes Sunni P. Beville as Partner and Co-Leader in Restructuring and Bankruptcy Department

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New York, NY – Sunni P. Beville has recently joined the law firm Otterbourg P.C. as a partner in the restructuring and bankruptcy department. In addition, she will co-lead the mass torts bankruptcy practice group, according to a firm statement released on Thursday. Formerly with Brown Rudnick, Beville brings extensive experience in representing companies, tort victims, and equity holders in Chapter 11 and Chapter 15 bankruptcy cases. She also specializes in handling out-of-court restructuring matters. Otterbourg emphasizes that her practice is diverse and includes debtor-side bankruptcy work, mass tort bankruptcies, and other cases involving insolvent … Read more

Audacy Faces Impending Bankruptcy as Debt Woes Mount

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Houston, TX – Audacy, one of the largest radio owners, is reportedly preparing to file for bankruptcy protection, as it struggles to pay back its $2 billion debt. The Wall Street Journal highlighted the radio broadcaster’s ongoing financial losses, with a reported loss of $281.7 million in the third quarter of 2023. This potential bankruptcy filing follows a 2017 merger with CBS Radio, which burdened Audacy with $1.5 billion in debt. In California, the Franciscan Friars have filed for Chapter 11 bankruptcy after facing nearly 100 sexual-abuse lawsuits. These lawsuits, mostly filed within the past … Read more

Legal Battle Brews as Kirkland Confronts Lawsuit Involving Controversial Texas Bankruptcy Judge

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KIRKLAND, Texas – Kirkland, a city in Texas, is facing a lawsuit following a contentious dispute involving a bankruptcy judge. The legal action highlights the complicated relationship between Kirkland and its bankruptcy court. The lawsuit arises from a series of events that occurred in 2024. In that year, Kirkland experienced a bankruptcy crisis, with numerous businesses and individuals struggling financially. As a result, a bankruptcy judge was appointed to oversee the proceedings. However, the judge’s tenure in Kirkland was marred by controversy. Accusations of bias and misconduct against the judge led to a heated dispute … Read more