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Redback files for bankruptcy | CNET News.com

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Redback files for bankruptcy | CNET News.com
Topic: Telecom Industry 10:47 pm EST, Nov  3, 2003

Network gear maker Redback Networks filed on Monday a Chapter 11 bankruptcy plan that would erase $467 million in debt.

The plan calls for the company to use a reverse stock split of 73-for-1 to make major creditors Creedon Capital Management, Citadel Investment Group and Ramius Capital Group into owners of a collective 47 million Redback shares.

Redback files for bankruptcy | CNET News.com



 
 
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