Tag #Bankruptcy

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zeit.de

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Mar 29, 01:13

Trump Pardons Fraud-Convicted Nikola Founder

Former US President Donald Trump pardoned Trevor Milton, the founder of bankrupt electric truck maker Nikola, who was convicted of fraud in 2022 for misleading investors about the company's technology, despite a recent court request for $661 million in restitution to shareholders; Nikola subsequentl...

Trump Pardons Fraud-Convicted Nikola Founder

Former US President Donald Trump pardoned Trevor Milton, the founder of bankrupt electric truck maker Nikola, who was convicted of fraud in 2022 for misleading investors about the company's technology, despite a recent court request for $661 million in restitution to shareholders; Nikola subsequentl...

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What role did false advertising and misleading statements play in Nikola's downfall, and how did these actions impact investors and creditors?

The pardon comes after Milton's 2022 conviction for misleading investors about Nikola's technology, including staging a video of a truck rolling downhill to simulate movement. The Justice Department had recently sought $661 million in restitution from Milton to shareholders. Milton's $2 million in political donations, largely to Trump's Republican Party, adds another layer to the controversy.

nos.nl

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Mar 28, 22:10

Bax Music Files for Bankruptcy

Bax Music, the largest online music retailer in the Benelux, filed for bankruptcy protection due to substantial debt stemming from internal shareholder conflicts, the COVID-19 pandemic's impact on the music industry, and a €10 million fire.

Bax Music Files for Bankruptcy

Bax Music, the largest online music retailer in the Benelux, filed for bankruptcy protection due to substantial debt stemming from internal shareholder conflicts, the COVID-19 pandemic's impact on the music industry, and a €10 million fire.

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What are the immediate consequences of Bax Music's bankruptcy filing for its employees, customers, and suppliers?

Bax Music, a prominent Benelux music retailer, has filed for bankruptcy protection. This follows a disagreement among shareholders regarding a restructuring plan and the sale of the company. The company, known for its large online presence and physical store, cites the impact of the COVID-19 pandemic and a significant fire as contributing factors.

cbsnews.com

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Mar 27, 01:16

Consortium to Rescue Pennsylvania Hospitals

A consortium is forming to potentially rescue Crozer-Chester Medical Center and Taylor Hospital in Delaware County, Pennsylvania, after a previous deal fell apart; a $13 million stopgap measure is in place while negotiations continue.

Consortium to Rescue Pennsylvania Hospitals

A consortium is forming to potentially rescue Crozer-Chester Medical Center and Taylor Hospital in Delaware County, Pennsylvania, after a previous deal fell apart; a $13 million stopgap measure is in place while negotiations continue.

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What immediate actions are underway to prevent the closure of Crozer-Chester Medical Center and Taylor Hospital?

Attorneys for Prospect Medical Holdings announced in a bankruptcy hearing that a consortium is forming to acquire Crozer-Chester Medical Center and Taylor Hospital in Delaware County, Pennsylvania. This follows a previous failed deal and a lawsuit attempting to block funding. A $13 million stopgap measure is keeping the hospitals operational.

nbcnews.com

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Mar 25, 07:12

23andMe Bankruptcy Raises Privacy Concerns Over Sale of Millions of Users' DNA Data

23andMe, facing bankruptcy, is selling the DNA data of millions of users, raising major privacy concerns due to the lack of federal regulation on tech companies' handling of genetic information, despite previous data breaches and the sensitive nature of DNA.

23andMe Bankruptcy Raises Privacy Concerns Over Sale of Millions of Users' DNA Data

23andMe, facing bankruptcy, is selling the DNA data of millions of users, raising major privacy concerns due to the lack of federal regulation on tech companies' handling of genetic information, despite previous data breaches and the sensitive nature of DNA.

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What are the immediate consequences of 23andMe's bankruptcy filing for its users' genetic data?

23andMe, a genetic testing company, has filed for Chapter 11 bankruptcy, leading to concerns about the sale of millions of users' DNA data. This raises significant privacy issues, as individuals have little control over how their sensitive genetic information will be used.

elpais.com

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Mar 25, 16:16

23andMe Declares Bankruptcy, Raising Concerns Over Genetic Data

23andMe, the pioneering genetic testing company founded by Anne Wojcicki, declared bankruptcy this week after struggling with profitability, leaving the fate of 15 million customers' genetic data uncertain.

23andMe Declares Bankruptcy, Raising Concerns Over Genetic Data

23andMe, the pioneering genetic testing company founded by Anne Wojcicki, declared bankruptcy this week after struggling with profitability, leaving the fate of 15 million customers' genetic data uncertain.

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What are the immediate consequences of 23andMe's bankruptcy for its customers and the broader genetic testing market?

23andMe, a pioneer in direct-to-consumer genetic testing, declared bankruptcy this week after failing to achieve profitability. The company, founded by Anne Wojcicki, initially valued at $3.5 billion during its 2021 IPO, lost 80% of its value last year and now faces liquidation with a valuation under $20 million. Wojcicki resigned as CEO.

cnn.com

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Mar 25, 19:18

23andMe Bankruptcy Raises Concerns Over User Genetic Data Privacy

23andMe, a genetic testing company with 15 million users, filed for Chapter 11 bankruptcy, raising concerns about the future handling of user genetic data by potential acquirers, prompting state attorneys general to urge users to delete their accounts.

23andMe Bankruptcy Raises Concerns Over User Genetic Data Privacy

23andMe, a genetic testing company with 15 million users, filed for Chapter 11 bankruptcy, raising concerns about the future handling of user genetic data by potential acquirers, prompting state attorneys general to urge users to delete their accounts.

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How might the sale of 23andMe impact the privacy and potential misuse of user genetic information?

The bankruptcy filing raises significant privacy concerns as a new owner might alter data handling practices. State attorneys general in California and New York have issued alerts urging users to delete their 23andMe accounts to safeguard their genetic information. This underscores the vulnerability of personal genetic data in commercial transactions.

zeit.de

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Mar 29, 07:13

Brandenburg Insolvencies Rise 9%, Sparking Policy Debate

Brandenburg experienced a 9% increase in insolvencies in 2024, totaling 3,680 cases and affecting 3,176 employees, prompting debate over economic support policies, with the SPD focusing on infrastructure investment and the AfD advocating for an end to Russia sanctions.

Brandenburg Insolvencies Rise 9%, Sparking Policy Debate

Brandenburg experienced a 9% increase in insolvencies in 2024, totaling 3,680 cases and affecting 3,176 employees, prompting debate over economic support policies, with the SPD focusing on infrastructure investment and the AfD advocating for an end to Russia sanctions.

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How do differing political viewpoints influence the proposed solutions to the rising insolvency rates in Brandenburg?

The rise in insolvencies has sparked debate over economic support policies. While the SPD's Minister Keller emphasizes infrastructure investment and reduced bureaucracy to stimulate growth, the AfD blames sanctions against Russia and calls for their end, along with lower energy costs and reduced bureaucracy.

foxnews.com

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Mar 27, 10:11

23andMe Bankruptcy Raises Concerns Over Law Enforcement Access to Genetic Data

23andMe, a genetic testing company, filed for Chapter 11 bankruptcy, raising concerns about the potential sale of its 15 million user database to law enforcement agencies, despite previous resistance to data requests and a 2023 data breach impacting 14,000 users. This raises significant privacy impl...

23andMe Bankruptcy Raises Concerns Over Law Enforcement Access to Genetic Data

23andMe, a genetic testing company, filed for Chapter 11 bankruptcy, raising concerns about the potential sale of its 15 million user database to law enforcement agencies, despite previous resistance to data requests and a 2023 data breach impacting 14,000 users. This raises significant privacy impl...

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What are the immediate implications of 23andMe's bankruptcy for law enforcement's access to its genetic database, and what are the associated privacy concerns?

23andMe's bankruptcy raises concerns about the accessibility of its extensive genetic database to law enforcement for solving cold cases. While the company previously resisted such requests, its financial struggles could lead to a sale, potentially granting authorities access to millions of genetic profiles. This raises significant privacy implications for users.

zeit.de

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Mar 26, 19:23

Northvolt Insolvency: Minister Accuses Schleswig-Holstein of Withholding Risks

Former Minister Bernd Buchholz accuses Schleswig-Holstein's government of concealing risks related to Northvolt's battery factory funding, potentially costing the state €300 million due to the company's insolvency; the state parliament will discuss the issue on Thursday.

Northvolt Insolvency: Minister Accuses Schleswig-Holstein of Withholding Risks

Former Minister Bernd Buchholz accuses Schleswig-Holstein's government of concealing risks related to Northvolt's battery factory funding, potentially costing the state €300 million due to the company's insolvency; the state parliament will discuss the issue on Thursday.

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What systemic changes or reforms could improve transparency and risk assessment in future state-sponsored industrial projects to prevent similar situations?

The Northvolt insolvency and resulting potential €300 million loss for Schleswig-Holstein underscores the risks of large-scale industrial subsidies without thorough due diligence. The case exposes challenges in balancing economic development goals with transparency and parliamentary oversight. Future investment decisions will likely face stricter scrutiny in light of this controversy.

abcnews.go.com

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Mar 25, 01:11

23andMe Files for Bankruptcy, Raising Genetic Data Privacy Concerns

23andMe, a genetic testing company, filed for Chapter 11 bankruptcy, raising concerns about the privacy of over 15 million consumers' genetic data, which is not protected by HIPAA, despite 80% opting into research. The company plans to continue operations during a sale process.

23andMe Files for Bankruptcy, Raising Genetic Data Privacy Concerns

23andMe, a genetic testing company, filed for Chapter 11 bankruptcy, raising concerns about the privacy of over 15 million consumers' genetic data, which is not protected by HIPAA, despite 80% opting into research. The company plans to continue operations during a sale process.

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What are the immediate consequences of 23andMe's bankruptcy filing for its customers' genetic data?

23andMe, a genetic testing company, filed for Chapter 11 bankruptcy. This follows a class-action settlement, board resignations, layoffs, and closure of its drug division. The company plans to continue operations during the sale process, assuring customers that data handling remains unchanged.

foxnews.com

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Mar 25, 16:16

23andMe Files for Bankruptcy, Raising Concerns Over Genetic Data Privacy

23andMe, a consumer DNA testing company, filed for Chapter 11 bankruptcy in March 2025, following a 2023 data breach impacting nearly 7 million users and subsequent financial decline. The bankruptcy will involve a court-supervised sale of assets, including customer genetic data, raising privacy conc...

23andMe Files for Bankruptcy, Raising Concerns Over Genetic Data Privacy

23andMe, a consumer DNA testing company, filed for Chapter 11 bankruptcy in March 2025, following a 2023 data breach impacting nearly 7 million users and subsequent financial decline. The bankruptcy will involve a court-supervised sale of assets, including customer genetic data, raising privacy conc...

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How did a combination of factors, including a data breach, financial losses, and leadership changes, contribute to 23andMe's bankruptcy?

The 23andMe bankruptcy highlights the vulnerability of personal genetic data within the consumer genomics industry. A 2023 data breach, coupled with financial instability, underscores the risks of storing sensitive information with companies facing operational and financial challenges. The sale process necessitates careful consideration of data protection regulations and consumer rights.

npr.org

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Mar 25, 19:19

23andMe Bankruptcy Raises Genetic Data Privacy Concerns

23andMe, a California-based genetic testing company with over 15 million users, filed for Chapter 11 bankruptcy this week, prompting concerns about user data privacy; however, the company maintains that customer data remains protected under existing regulations and will remain so under any future ow...

23andMe Bankruptcy Raises Genetic Data Privacy Concerns

23andMe, a California-based genetic testing company with over 15 million users, filed for Chapter 11 bankruptcy this week, prompting concerns about user data privacy; however, the company maintains that customer data remains protected under existing regulations and will remain so under any future ow...

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What immediate impact will 23andMe's bankruptcy filing have on the 15 million users' genetic data?

23andMe, facing financial difficulties, has filed for Chapter 11 bankruptcy, raising concerns about user data. The company assures users that their data remains protected and any buyer will be legally obligated to maintain this protection. A California Attorney General's 8-step guide allows users to delete their data from 23andMe.

Showing 49 to 60 of 159 results